If ending inventory for the current accounting period is understated by $4,700, A. owner's equity at the end of the next accounting period will be understated by $4,700 O B. net income for the current period will be overstated by $4,700 O C. cost of goods sold for the current period will be overstated by $4,700 OD. beginning inventory for the next period will be overstated by $4,700