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In 2024. Waterway Internationat, Incorporated's controller discovered that ending inventories for 2022 and 2023 were overstated by $300,000 and $600,000, respectively. Determine the effect of

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In 2024. Waterway Internationat, Incorporated's controller discovered that ending inventories for 2022 and 2023 were overstated by $300,000 and $600,000, respectively. Determine the effect of the errors on retained earnings ot January 1, 2024. (lgnore income taxes)

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