Question 3 (10 MARKS) Eclipse Optical Company received a consignment of optical lens costing $7,550 on Nov 15, 2020 from a supplier on the following term of 12% sales commission on cost. Between Nov 15 to December 31, Eclipse Optical sold $3,550 of the consigned goods. During the year end physical count of inventory, the $4,000 balance of the consignment optical lens was counted as part of the company's ending inventory. Required: a) Is the optical lens a part of Eclipse's ending inventory? Explain. (2 marks) b) How much of sales commission revenue did Eclipse earned on the consignment goods? (2 marks) c) Assuming that the decision to count the lens as part of Eclipse's ending inventory, show the effect of the inventory error on the following account is Overstated or Understated 1) Ending inventory 2) Current assets 3) Owner's equity Cost of goods sold Net income (6 marks)