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Nikita Company's financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Inventory

Nikita Company's financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Inventory on December 31, 2008, is understated by $56,000, and inventory on December 31, 2009, is overstated by $25,000

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