Analysis Case 9-6 (Static) Inventory errors [LO9-7] Eddie's Gallerie sells billiard tables. The company has the following purchases and sales for 2024. Eddie is worried about the company's financial performance. He has noticed an increaselin the purchase cost of billard tables, but at the same time, competition from other billiard table stores and other entertainment choices have provonted him frem increasing the sales price. Eddie is woiried that if the compary's profitability is too low, stockholders will demand he be replaced. Eddle does not. Wont to lose his job. Since 60 of the A00 billard tables soid have not yet been picked up by the customers as of Docember 31,2024 , Edtie decides incorrectly to include these tables in ending inventory. He approprlately includes the sale of these 60 tables as part of total revenues in 2024. Required: 1. What amount will Eddie calculate for ending inventory and cost of goods sold using FFO, assuming he erroneously reports that nio tables remain in ending imventory? 2. What amount would Eddie calculate for cost of goods sold using FFO if he corroctly reports that only 50 tables remain in ending imventory? 3. 8 4. What effect will the inventory error have on reported amounts for (a) ending inventory, (b) retained eamings. (c) cost of goods sold, and (d) net income (ignoring tax effects) in 2024 and in 2025, assuming that ending inventory ls correctly counted at the end of 2025? Complete this question by entering your answers in the tabs below. What amount will Eddie calculate for ending inhentory and cost of goods sold using FIFO, assuming he erroneousiy reports that 110 tables remain in ending inventory