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Kuzu Company discovers in 2022 that its ending inventory at December 31, 2021, was $7,000 understated. What effect will this error have on (a) 2021

Kuzu Company discovers in 2022 that its ending inventory at December 31, 2021, was $7,000 understated. What effect will this error have on (a) 2021 net income (b) 2022 net income the combined net income for the 2 years (c) will be correct

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