Tarot Company, which does not maintain perpetual inventory records, was in process of moving to a new location at the close of its calendar year, December 31, 2015. As a consequence, some confusion prevailed in relation to the inventory cut-off, as indicated by the following:

• One lot of merchandise with a cost of $4,300 was counted twice
• Merchandise on hand costing $1,640 was included in the inventory although the invoice was not recorded until January 10,2016.
• Merchandise in transit, shipped to the company FOB shipping point, was recorded as a purchase as of December 31, 2015 at its cost of $8,200, but was not included in the inventory
• Merchandise shipped on December 31, 2015, FOB destination and received by the customer on January 4, 2016 was not included in the inventory. The cost of this merchandise was $1,750; the sale was recorded at $2,400 on December 31, 2015
• Merchandise costing $4,490 was included in the inventory, although it was shipped to a customer on December 31, 2015, FOB shipping point, and the company recorded the sale at $5,900 on that date.

REQUIRED:

Compute for the overstatement or understatement of Cost of Sales for 2015.