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Wrigley Company had the following errors over the last two years: 2011: Ending inventory was overstated by $34,500 while depreciation expense was overstated by $25,700
Wrigley Company had the following errors over the last two years: |
2011: | Ending inventory was overstated by $34,500 while depreciation expense was overstated by $25,700 |
2012: | Ending inventory was understated by $12,500 while depreciation expense was understated by $5,800. |
By how much should retained earnings be adjusted on January 1, 2013? (Ignore taxes) |
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