Please help me answer this question.

During the taking of a physical inventory on December 31, 2019, certain merchandise that cost $2500 was NOT counted; the total inventory was, therefore, understated by $2500. For each of the following items, state whether the item will be overstated or understated and explain why. A. Cost of Goods Sold: B. Net Income: C. Total Assets: D. Inventory January 1, 2020