Powell Company had the following errors over the last two years: 2019: Ending inventory was overstated by $58,500 while depreciation expense was overstated by $25,500. 2020: Ending inventory was understated by $9,500 while depreciation expense was understated by $4,200. By how much should retained earnings be adjusted on January 1, 2021
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Powell Company had the following errors over the last two years: 2019: Ending inventory was overstat...
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