Design Layout Reference Malings Vee Help Fors-12 AzRbCd ARCeL ABbCc Alice AaB APACE A-P-A Theme Na Spa Heading 2 Sobrie 100 823- Di S Q8) Which of the following inventory valuation methods should be used for distinguishable items and high value? a) Unit, cost method. b) FIFO method. c) Weighted average cost method. d) Continuous weighted average cost method. Q9) The ending Inventory for the current accounting period is overstated by 10,000 SR. What effect will this error have on Cost of Goods Sold and Net Income for the current accounting period? a) Both Cost of Goods Sold and Net Income will be understated. b) Both Cost of Goods Sold and Net Income will be overstated. c) Cost of Goods Sold will be understated and Net Income will be overstated. d) Cost of Goods Sold will be overstated and Net Income will be understated