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In 2021, Winslow International, Inc.'s controller discovered that ending inventories for 2019 and 2020 were overstated by $310,000 and $610,000, respectively. Determine the effect of

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In 2021, Winslow International, Inc.'s controller discovered that ending inventories for 2019 and 2020 were overstated by $310,000 and $610,000, respectively. Determine the effect of the errors on retained earnings at January 1, 2021. (Ignore income taxes.) Retained earnings would be

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