A company uses the periodic inventory method and the beginning inventory is overstated by $4,000 because the ending inventory in the previous period was overstated by $4,000; the ending inventory for this period is correct. How will the amounts affect Stockholders' Equity? Overstated or Understated or Correct? Judah Inc. uses the periodic inventory method and had the following inventory information available: 1/1 Beginning Inventory 80 @ $4 1/20 Purchased 500 @ $7 1/26 Purchased 100 @ $8 1/30 Purchased 300 @ $10 A physical count of inventory on December 31 revealed that there were 626 units on hand. Round to the nearest whole dollar, use a comma if needed. DO NOT PUT A DOLLAR SIGN IN YOUR ANSWER What value would be assigned to COGS using LIFO