If ending inventory is overstated by $5,000, then

2 If ending inventory is overstated by $5,000, then: BLtPurehaesEL- a. Cost of goods sold will be overstated by $5,000 b. Cost of goods sold will be understated by $5,000 c. The following year beginning inventory will be understated by $5,000 d. The LIFO method was used