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The accounting records of New Life Home Store show these data (in millions) Click the icon to view the income statements.) The shareholders are

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The accounting records of New Life Home Store show these data (in millions) Click the icon to view the income statements.) The shareholders are very happy with New Life's steady increase in net income. However, auditors discovered that the ending inventory for 2019 was understated by 56 million and that the ending inventory for 2020 was understated by $4 million. The ending inventory at December 31, 2021, was correct. Read the requirements

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