A company began trading on 1 January 2018, preparing accounts to 31 December each year. As 31 December 2019, the company adopted a new accounting policy with regard to the measurement of inventories. If the new policy had been applied in prehous years, the company's inventory at 31 December 2018 would have been $70,000 higher than the amount originally calculated One of the following sentence is True Select one: OaNet profit will decrease for$ 70,000 in the year 2018, and it will increase for $19,999 for the year 2919 Cost of Goods sold will increase for $ 70,000 the year 2018, Oc Cost of Goods sold will decrease for $70,000 in the year 19 sd det profit will increase for $70,000 in the year 2018, and will decrease for $79,000 for the year