Entity C uses a periodic inventory system. It understated its ending inventory in 2023 because it did not count goods in a warehouse in Yuma, Arizona. The effect of this error on 2023's cost of goods sold (COGS) and net income (NI), respectively are: O COGS overstated and NI overstated O COGS understated and NI overstated O COGS understated and NI understated O COGS overstated and NI understated