Jayard Co, uses a periodic inventory system. Beginning inventory on January 1 was understated by $31,300, and its ending inventory on December 31 was understated by $15,200. In addition, a purchase of merchandise costing $20,900 was incorrectly recorded as a $2,090 purchase. None of these errors were discovered until the next year. As a result, Jayard's cost of goods sold for this year was: Muliple Choice Overstoted by 32710 . Overstated by $34,910 Understated by $34,910 Underatated by $5010