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During Its First Year of Operations, Williams Company, Using a Periodic

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During its first year of operations, Williams Company, using a periodic inventory system, made undiscovered errors in taking its year-end inventory that overstated Year 1 ending inventory by $50,000.
The effect of these errors on reported income is:
During its first year of operations, Williams Company, using a periodic inventory system, made undiscovered errors in taking its year-end inventory that overstated Year 1 ending inventory by $50,000. The effect of these errors on reported income is:

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