Charlie Weasley Dragon Co. uses a periodic inventory system. Beginning inventory on January 1 was understated by $30,500, and its ending inventory on December 31 was understated by $16,000. In addition, a purchase of merchandise costing $20,900 was incorrectly recorded as a $2,090 purchase. None of these errors were discovered until the next year. What is the effect of these errors on cost of goods sold this year? Understated by T +