Indicate in each of the speces provided the effect of the described errors on the various elements of a company's financial statements. Assume a periodic inventory system Accounts Receivable Inventory Accounts Payable Sales Cost of Goods Sold > Goods in transit shipped "f.o.b. destination" by supplier were recorded as a purchase but were excluded from ending inventory Goods held on consignment were included in inventory count and recorded as a purchase. Goods in transit shipped "2.0.5. shipping point" were not recorded as a sale and were included in ending inventory Goods were shipped and appropriately excluded from ending inventory but sale was not recorded. > > V