D Question 15 4.7 pts An error was made in the computation of the percentage of completion of the current year's ending work-in-process inventory. The error resulted in assigning a lower percentage of completion to the conversion cost component of the ending inventory than was the case. Consequently, the following were misstated: 1. The computation of total equivalent units. 2. The computation of costs per equivalent unit. 3. Costs assigned to cost of goods completed for the period. What were the effects of the error? 1 Overstate 3 Understate Overstate 3 Understate Overstate Understate 1 Understate 3 Overstate Understate 2 Overstate 2 Overstate Understate