3 Required: a. If the beginning balance of the Inventory account and the cost of items purchased or made during the period are correct, but an error resulted in overstating the firm's ending Inventory balance by $15,000, how would the firm's cost of goods sold be affected? 2 points Too low Too high eBook b. If management wanted to understate profits, the ending Inventory should be understated or overstated? Paint Understated Overstated References