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Sheridan Company understated its 2019 ending inventory by $30,550. Determine the impact this error has on ending inventory, cost of goods sold, and owner's equity
Sheridan Company understated its 2019 ending inventory by $30,550. Determine the impact this error has on ending inventory, cost of goods sold, and owner's equity in 2019 and 2020. 2019 2020 Ending inventory Cost of goods sold Understated Overstated No Effect Owner's equity
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