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Question #2. (30 marks) The following inventory valuation errors have been discovered for Chloe Corporation: The 2018 year-end inventory was overstated by $23,000. The 2019
Question \#2. (30 marks) The following inventory valuation errors have been discovered for Chloe Corporation: The 2018 year-end inventory was overstated by $23,000. The 2019 year-end inventory was understated by $61,000. The 2020 year-end inventory was understated by $17,000. 1 The reported income before taxes for Chloe was: Required: Compute what income before taxes for 2018, 2019, and 2020 should have been after correcting for the errors
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