DA Compared that the men were the following SOD Sot 47.000 overstated During 2021. Abundant Company discovered that the ending inventories reported on its financial statements were incorrect by the following amounts: 2019 $15,000 understated 2020 $32,000 Abundant uses the periodic inventory system to ascertain year-end quantities that are converted to dollar amounts using the FIFO cost method. Prior to any adjustments for these errors am 2021, would be $17.000 overstated S47,000 overstated Correct 532,000 overstated the FIFO cost method. Prior to any adjustments for these errors and ignoring income taxes, Abundant's retained earnings at January 1