Neverstop Corporation sells item A as part of its product line. Information about the beginning inventory, purchases, and sales of item A are given in the following table for the first six months of 2017. The company uses a perpetual inventory system: Purchases Sales Number of Units Sales Price Number of Units 600 Unit Cost $4.50 400 $6.00 Date January 1 (beginning inventory) January 24 February 8 March 16 June 11 700 $4.60 660 $6.20 400 $4.75 Assume that because of a clerical error, the ending inventory is reported to be 540 units rather than the actual number of units (640) on hand. 5a. If FIFO is used, calculate the amount of the understatement or overstatement in the cost of sales for the first six months of 2017. Overstatement of cost of sales 5b. If FIFO is used, calculate the amount of the understatement or overstatement in the current assets at June 30, 2017 of current assets