Ending Inventory for the Current Accounting Period Is Overstated by $3,500.What

Multiple Choice

Ending inventory for the current accounting period is overstated by $3,500.What will be effect of this error?

A) Net income for the current period will be overstated by $3,500.
B) Cost of goods sold for the current period will be overstated by $3,500.
C) Ending inventory for the next period will be overstated by $3,500.
D) Equity at the end of the next accounting period will be overstated by $3,500.