1. Brightworks overstated ending inventory in 2019 by $5,000. The error was not discovered until the following year. This inventory error would have the following impact in 2019 and 2020 (2 marks)
   1. 2019 Cost of Goods Sold understated by $5,000 and, 2020 Cost of Goods Sold understated by $5,000.
   2. 2019 Cost of Goods Sold overstated by $5,000 and, 2020 Cost of Goods Sold understated by $5,000.
   3. 2019 Cost of Goods Sold understated by $5,000 and, 2020 Cost of Goods Sold overstated by $5,000.
   4. 2019 Cost of Goods Sold overstated by $5,000 and, 2020 Cost of Goods Sold overstated by $5,000.