Refer to the situation described in BE 915. What steps would be taken to report the error
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Refer to the situation described in BE 9–15. What steps would be taken to report the error in the 2021 financial statements?
BE 9–15
In 2021, Winslow International, Inc.’s controller discovered that ending inventories for 2019 and 2020 were overstated by $200,000 and $500,000, respectively. Determine the effect of the errors on retained earnings at January 1, 2021.
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Related Book For 
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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