The ending merchandise inventory for the current accounting period is understated by$$ $$10,000.$ What will be the effect of this$$ error?

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Part $1$

A$.$

Gross Profit for the current period will be overstated by$$ $$10,000.$

B$.$

The cost of goods available for sale for the current accounting period will be overstated by$$ $$10,000.$

C$.$

The cost of goods available for sale for the current accounting period will be understated by$$ $$10,000.$

D$.$

Gross Profit for the current period will be understated by$$ $$10,000.$