Ward remarks that Wally and Beaver looking at the scrapbook "took them away from their homework for a few minutes". However, both Beaver and Wally had already graduated, Wally from high school and Beaver from grammar school.
As the family views the scrapbook, June says that the incident with the letter from Beaver's teacher happened when he was "in about the first grade". In fact, it occurred in second grade, in "Beaver Gets 'Spelled' (1957)".
Most of the photos in the scrapbook were of scenes from various episodes throughout the entire run of the show. The actual episodes, of which each of those photos represents, had no indication that any family member was taking pictures.