During April of the current year, a company's bookkeeper recorded the cost of goods sold for the previous year ended December 31 as $11,200 when it was actually $12,100. Assume the year end has already been completed. Assuming the error was not detected, which one of the following is NOT true?

Select one:

a. In the next year, when goods are sold and costs are removed from inventory, the cost of goods sold will be overstated.

b. In the year of the error, the value of ending inventory is understated.

c. In the year of the error, cost of goods sold is understated.

d. Inventory errors are said to be "self-correcting."