UUS SUI 7800 Merchandise Inventory 7,800 15) Ending inventory for the current accounting period is overstated by $2,700. What effect will this error have on cost of goods sold and net income? A) Cost of Goods Sold Net Income Understated Understated Cha: Net Income Cost of Goods Sold Overstated Understated Toxt Net Income Cost of Goods Sold Understated Overstated Spacin Cost of Goods Sold Net Income Bullets Overstated Overstated Drop Ca