If beginning inventory is understated by $10,000, the effect of this error in the current period is (use the COGS equation for the Periodic System): *Answer (check the box to indicate the correct response) A. Cost of Goods Sold: Understated, and Net Income: Understated. B. Cost of Goods Sold: Overstated, and Net Income: Overstated. C. Cost of Goods Sold: Understated,, and Net Income: Overstated. D. Cost of Goods Sold: Overstated, and Net Income: Understated