(Answered) See page 317 in your text---earnings management

Accounting

See page 317 in your text---Earnings Management AP6-8

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Read the problem and answer number 4 below:

Assuming that ending inventory is correctly counted at the end of 2016, what effect will the inventory error in 2015 have on reported amounts for ending inventory, retained earnings, cost of goods sold and net income for 2016? (ignoring tax effects.)

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