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Beech Inc. is in the business of selling wooden pallets. Beech sold 12 pallets to a customer and erroneously recorded a sale of 22 pallets. What is the effect of the error on cost of goods sold and ending inventory at the end of the current accounting period? Cost of goods sold and ending inventory are both overstated Cost of goods sold is understated and ending inventory is overstated. O Cost of goods sold and ending inventory are both understated. Cost of goods sold is overstated and ending inventory is understated