During your audit of Patti Company's ending inventory at December 31,201, you find the following inventory accounting errors a. Goods in Patti's warehouse on consigniment from Valley. Inc. were included in Pattis ending inventory b. On December 31. 20X1, Patt received $4.700 worth of inventory, which was included in the 201 ending inventory However, the invoice on this merchandise was not received by Patti until January 3,202, at which time the purchase was recorded. The purchase should have been recorded in 201 c. Patti purchased merchandise on account on December 30, 20X1, but did not include these goods in inventory or record the purchase. These goods were shipped by the vendor fo.b. shipping point (title transfers when goods are shipped) and were in trart on December 31, 20x1 d. Some of Patt's merchandise, shipped on consignment to Kaitlin Company in mid-December 20X1, was excluded from the December 31,201, inventory. e. On December 28, 20X1, Patti shipped goods costing $10,000 to Likert, fo b destination (tutle transfers when goods are receved) Likent received the goods on January 4,202 and notified Patt of their arrival The goods were not included in Pattis 201 inventory balance. Required: Assume that Patt uses the periodic inventory system. Indicate the effect (understate, overstate, or no effect) each of these errors would have on