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In 2020, Bodoh Inc. underreports the ending inventory for 2020. This error was not detected until October 2023. Assuming no other errors were made, which

In 2020, Bodoh Inc. underreports the ending inventory for 2020. This error was not detected until October 2023. Assuming no other errors were made, which of the following is true?

A. Retained earnings in 2021 is understated.

B. COGS in 2020 is understated.

C. Retained earnings in 2021 is accurate.

D. COGS in 2021 is overstated.

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