167. A company understated its ending inventory balance by $5,000 in 2015. What impact will this error have on total assets and retained earnings in 2015 and 2016 (ignoring tax effects)?
168. A company overstated its ending inventory balance by $9,000 in 2015. What impact will this error have on total assets and retained earnings in 2015 and 2016 (ignoring tax effects)?
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