A company using a periodic inventory system performs an inventory count at the end of the fiscal year, December 31, 2020. The count was done by a junior accountant and resulted in a $12,500 overstatement of ending inventory. The effect of this error in the financial statements created for December 31, 2020 would be: Select one: O a cost of Goods Sold: Understated // Profit: Overstated O b. Cost of Goods Sold: Understated // Profit: Understated Oc Cost of Goods Sold: Overstated // Profit: Understated O d. Cost of Goods Sold: Overstated // Profit: Overstated