Learning Objective 6.6 Use the following information to determine answers the questions below In June of 2022, Beerbo discovered that its fiscal year-end 2020 ending inventory count was overstated by $10 because its warehouse manager accidentally counted inventory in-transit that was shipped FOB destination point. Assume the following correct (.e. error-free) information about Beerbo Beginning inventory FYE 2020 $100 FYE 2021 $100 Purchases $100 $100 Ending inventory $100 $100 Net sales revenue $1,000 $1,000 $1,000 Beginning retained earnings $900 Assume Beerbo's only expense for 2020 and 2021 was COGS 6.6) 1. Given the information above, use the chart below to determine the following inputs for the yellow cells: 2020 2021 actual information Ending inventory was $ COGS was $ Gross profit and net income were $ Ending retained earnings was $ information as recorded: Ending inventory of $ COGS of $ was $was too high/low) was S too (high/low was too high/low) too [high/low Gross profit and net income were $ Ending retained earnings of $ actual information Beginning inventory was $ COGS was $ Gross profit and net income were 5 Beginning retained earnings was $ Ending retained earnings was $ information as recorded Beginning inventory of $ was $ too high/low .COGS of $ was 5 too thigh/low) Gross profit and net income of $ was $ Beginning retained eamings of $was 5 Ending retained eamings of $ was $ 2020 too [high/low) too (high/low too high/low 2020 2021 2021 Actual As Recorded too high/low Actual As Recorded too high/low: Beg 100 100 Beg