7 points Save Answer QUESTION 4 The purchases of a firm using a periodic inventory system was overstated by 52,500 because of a calculation error, at 30 June 2021. Would cost of sales, current assets and gross profit be overstated, understated or not affected by this error? Explain your answer. (3 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). TT T Ariat 3 [12pt) TEN 225