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What is the effect of a $50,000 understatement of last year's inventory on current years ending retained earning balance? a. Overstated by 50000 b. no

What is the effect of a $50,000 understatement of last year's inventory on current years ending retained earning balance?

a. Overstated by 50000

b. no effect

c. need more information

d. understated by 50000

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