Question: Brief Exercise 9 - 1 5 ( Algo ) Inventory error [ LO 9 - 7 ] In 2 0 2 4 , Waterway International,

Brief Exercise 9-15(Algo) Inventory error [LO9-7]
In 2024, Waterway International, Incorporateds controller discovered that ending inventories for 2022 and 2023 were overstated by $340,000 and $640,000, respectively.
Determine the effect of the errors on retained earnings at January 1,2024.(Ignore income taxes.)

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