The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation for the just-completed year.

Sales

1,700

Raw materials inventory, beginning

50

Raw materials inventory, ending

25

Purchases of raw materials

210

Direct labor

360

Manufacturing overhead

330

Administrative expenses

400

Selling expenses

200

Work-in-process inventory, beginning

120

Work-in-process inventory, ending

150

Finished goods inventory, beginning

80

Finished goods inventory, ending

120

Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is the impact on the financial statements if the ending finished goods inventory is overstated or understated?