Question: answer i have is incorrect Reporting an Inventory Error In the current year, a company discovered errors in previously reported financial statements that overstated ending

answer i have is incorrect

Reporting an Inventory Error In the current year, a company discovered errors in previously reported financial statements that overstated ending inventory on December 31 of the prior year by $22,000, and overstated ending inventory on December 31 of two years prior by $33,000. Prepare the correcting entry required on January 1 of the current year, ignoring income taxes

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