An accounting clerk working for DBB neglected to record the purchase of merchandise in 20x1, which was, shipped f.o.b. shipping point on December 20, 20x1, and which arrived on December 31. The goods were included in the ending 20x1 inventory. What was the effect on DBB's 20x1, cost of goods sold? Multiple Choice Cost of goods sold was correct. Cost of goods sold was overstated. Data are not available to determine effect on cost of goods sold. Cost of goods sold was understated