If a group of inventory items costing $15,000 had been omitted from the year-end inventory count, what impact would the error have on the following inventory calculations? Indicate the effect (and amount) as either (a) none, (b) understated $______, or (c) overstated $______.

Inventory Item None of Item? Understated or Overstated?

Beginning Inventory

Purchases

Good available for sale

Ending Inventory

Cost of Goods Sold