# accounting

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Please let me know if I'm right!!
I made the following errors in counting its year-end physical inventories:
2001 \$ 60 overstatement
2002 \$108 understatement
2003 \$90 overstatement
t I'm thinking the entry to correct the accounts at the end of 2003 is
Retained Earnings \$48
Cost of Goods Sold \$42
Inventory \$90
or should I go with next
Retained Earnings \$18
Cost of Goods Sold \$72
Inventory \$90

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