SAT, 09.12.2021 01:00, stryjker

Berkshire inc. Uses a periodic inventory system. At the end of 2020, it missed counting some inventory items, resulting in an inventory understatement by $600,000. Assume that berkshire has a 25% income tax rate and that this was the only error it made. What is the effect of the error on berkshire's december 31, 2021 balance sheet?.

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