View Policies Current Attempt in Progress Overstatement of ending inventory causes O cost of goods sold to be overstated and net income to be understated. O cost of goods sold to be overstated and net income to be overstated. O cost of goods sold to be understated and net income to be understated. O cost of goods sold to be understated and net income to be overstated. Save for Later Attempts: 0 of 1 used Submit