Analyze the effects of inventory errors on a firm's fnancial statements at the end of the period. Assume that al sales and purchases are on account a. In the year and physical count of Inventory goods delivered from the consignor were included in the court. How does this error affect the following amounts (overstated, understated, or no effecty? Use the drop down menu for your response 1) Inventory overstated 2) Retained understated no effect 3) Current 4) Cost of goods sold d. Goods in transit shipped FOB destination to a customer were recorded as a sale and excluded from ending inventory. How does this error affect the following amounts (overstated, understated, or no effect)? Use the drop down menu for your response. 1) Inventory 2) Accounts receivable: 3) Accounts payable: 4) Working capital 5) Cost of goods sold: . 6) Net income