Exam 1(Ch5 & Ch9) Saved Help Sav 4 merchandise costing $20,300 was incorrectly...

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Accounting

Exam 1(Ch5 & Ch9)
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4 merchandise costing $20,300 was incorrectly recorded as a $2,030 purchase. None of these errors were discovered until the next year. As a result, cost of goods sold for the current year was:
02:28:45
Multiple Choice
Overstated by $32,670.
Understated by $32,670.
Overstated by $3,870.
Understated by $48,970.
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