8. In January 2013, two inventory errors from the prior years were discovered: Ending inventory at December 31, 2011 was overstated by $19,500, and ending inventory at December 31, 2012 was overstated by $12,000. What effect did these errors have on the 2012 financial statements? (Ignore income taxes.) a. Cost of goods sold understated by $31,500; stockholders' equity understated by $12,000. b. Costs of goods sold understated by $7,500; stockholders' equity overstated by $12,000. c. Cost of goods sold overstated by $31,500; stockholders' equity overstated by $31,500. d. Cost of goods sold overstated by $7,500; stockholders' equity overstated by $12,000. e. None of the above