5.LO 6.6: In 2022, Beerbe discovered that it had counted its 2020 year-end inventory incorrectly. For each scenario below, use the charts to determine the effects of the 2020 inventory error. (assume all other facts are the same from our class example). 5.e.i.Beesho's 2020 year-end inventory was understated by $15 (i.e. count was $15 too low) 2020 2020 as too high/ 2021 2021 as too high actual recorded low actual recorded low Beg Beg. + Purch + Purch End. -End. =COGS = COGS Rev. Rev. - COGS - COGS =GP/NI =GP/NI Beg. RE Beg. RE +NI + NI End. RE End. RE too high/ low 5.e.li.Beerbo's 2020 year-end inventory was overstated by $20 (i.e. count was $20 too high) 2020 2020 as too high/ 2021 2021 as actual recorded low actual recorded Beg Beg + Purch + Purch, End. - End. = COGS =COGS Rev. Rev -COGS COGS GP/NI = GP/NI Beg. RE Beg. RE + NI + NI End.RE End. RE