Klein Co uses a periodic inventory system. Beginning inventory on January 1, 2021 was understated by $13,000, and its ending inventory on December 31, 2021 was understated by $47,000. Additionally, a purchase of inventory costing $16,000 was incorrectly recorded as $1,600. These errors were not discovered until 2022. 

Assuming the errors are not discovered until 2023, is Klein's cost of goods sold in 2021 overstated or understated? 

What is the dollar amount of the overstatement/understatement of cost of goods sold in 2021? 

Assuming the errors are not discovered until 2023, is Klein's gross profit in 2022 overstated or understated?