Correct spelling, explanation: exited is the past and present participle form of exit, which comes from the Latin forms exit and exitus, which referred to going out. Exited joined the word ex, which means out, and ire, which means go. When it comes to English, exited appeared in it in the middle of the 16th century.

Definition of exited:
1. verb (past form) – to leave a place,
I didn’t enjoy the party at all so I exited as soon as I could, without saying goodbye to anyone.
2. verb (past form) – to leave a larger road in order to use a smaller one,
The car exited Route 2 at such high speed that the police started chasing it.
3. verb (past form) – to leave a job,
He exited the company without giving any good reason, which surprised everyone.

Collocations with exited:
A few common collocations with exited are: exited from, exited early, and exited for.
Bill exited from the house in such a hurry today that he even forgot to take his lunchbox.
He exited the party really early, which was strange for such a life and soul of the part as he is.
After spending almost an hour in a huge traffic jam, he finally exited for Leeds.

Incorrect spelling, explanation: when we form the past form of exit, we simply add the -ed ending, but what is important, we do not double the -t letter. Most English verbs indeed double the last consonant in such a case, but exited is some kind of an exception and it features a single -t letter. As many English users don’t know, a common mistake is to spell exited as exitted.