9 of 9 View Policies Show Attempt History Current Attempt in Progress - Your answer is partially correct. 1.25/1.5 : Sheridan Company understated its 2021 ending inventory by $30,500. Determine the impact this error has on ending inventory, cost of goods sold, and stockholders' equity in 2021 and 2022. 2021 2022 Ending inventory Understated v No Effect Cost of goods sold Overstated Understated Stockholders' equity Understated v Overstated eTextbook and Media Save for Later Using multiple attempts will impact your score. 15% score reduction after attempt 2 Attempts: 1 of 3 used Submit