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Vaughn Company understated its inventory by $21300 at December 31, 2020. It did not correct the error in 2020 or 2021. As a result. Vaughn's

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Vaughn Company understated its inventory by $21300 at December 31, 2020. It did not correct the error in 2020 or 2021. As a result. Vaughn's owner's equity was: O understated at December 31, 2020, and overstated at December 31, 2021. O overstated at December 31, 2020, and overstated at December 31, 2021. understated at December 31, 2020, and understated at December 31, 2021. understated at December 31, 2020, and properly stated at December 31, 2021

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