3 The Blotto Company made the following two errors in counting ending inventory: Understated 12/31/12 inventory by $3,000 Understated 12/31/13 inventory by $5,000 of The combination of these two errors will cause Select one: a. 12/31/13 Retained Earnings to be understated by $5,000 Ob. 2013 Cost of Goods Sold to be overstated by $8,000 c. 2014 Beginning Inventory to be overstated by $2,000 Od 2014 Cost of Goods Sold to be overstated by $5,000 O. 2013 Net Income to be overstated by $3,000 3 The Blotto Company made the following two errors in counting ending inventory: Understated 12/31/12 inventory by $3,000 Understated 12/31/13 inventory by $5,000 of The combination of these two errors will cause Select one: a. 12/31/13 Retained Earnings to be understated by $5,000 Ob. 2013 Cost of Goods Sold to be overstated by $8,000 c. 2014 Beginning Inventory to be overstated by $2,000 Od 2014 Cost of Goods Sold to be overstated by $5,000 O. 2013 Net Income to be overstated by $3,000