In 2021. Winslow International, Inc's controller discovered that ending inventories for 2019 and 2020 were overstated by $290,000 and $590,000, respectively. Determine the effect of the errors on retained earnings at January 1, 2021. (ignore income taxes.) In 2021, Hopyard Lumber changed its inventory method from LIFO to FIFO. Inventory at the end of 2020 of $102,000 would have been $120,000 if FIFO had been used. Inventory at the end of 2021 is $137,000 using the new FIFO method but would have been $126,000 If the company had continued to use LIFO. What is the effect of the change on 2021 cost of goods sold