Waters Hardware reported cost of the goods sold as follows. 2020 2021 $30,000 $40,000 Beginning inventory Cost of goods purchased 220,000 245,000 Cost of goods available for sale 250.000 285,000 Ending inventory 40.000 45,000 Cast of soods sold $210.000 $240,000 Waters made two errors:1) 2020 ending inventory was overstated $5.000 and (2) 2021 ending inventory was understated $8,000 Your answer is partially correct. What correcting entry would Waters make for error (21? (Credit account titles are automatically Indented when the amount is entered, Do not indent manually) Debit Credit No Account Titles and Explanation (b)