Kevin is the accountant for Alex Enterprises, a manufacturer of baseball bats. Kevin made an error in the accounting process. Work-in-Process (WIP) was overstated by $25,000 for the month. What impact would this error have on both the cost of goods sold (COGS) and net income? COGS would be overstated by $25,000; net income would be understated by $25,000. COGS would be overstated by $25,000; net income would be overstated by $25,000. COGS would be understated by $25,000; net income would be overstated by $25,000. COGS would be understated by $25,000; net income would be understated by $25,000