Fran Company”s ending inventory is understated by $4,000. The effects of this error on 1 answer below »

Fran Company"s ending inventory is understated by $4,000. The effects of this error on the current year"s cost of goods sold and net income, respectively, are:

(a) understated and overstated.

(b) overstated and understated.

(c) overstated and overstated.

(d) understated and understated.