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Colins Carpentry reported its 2021 financial statements on February 25, 2022. After issuing its financial...

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Accounting

Colins Carpentry reported its 2021 financial statements on February 25, 2022. After issuing its financial statements, the company discovered that its ending inventory was understated by $120,000. The companys tax rate is 25%. As a result of this error, cost of goods sold for 2021 was:

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