S 5-24 (Static) Inventory errors LO A2 In taking a physical inventory at the end of Year 1, Grant Company forgot to count certain units and understated ending inventory by $10,000. Determine how this error affects each of the following. a. Year 1 cost of goods sold. b. Year 1 net income. c. Year 2 cost of goods sold. d. Year 2 net income. QS 5-25 (Static) Analyzing inventory LO A3 Endor Company begins the year with $140.000 of goods in inventory. At year-end, the amount in inventory has increased to $180,000. Cost of goods sold for the year is $1,200,000. Compute Endor's inventory turnover and days' sales in inventory. Assume there are 365 days in the year. Inventory Turnover Choose Numerator: Choose Denominator: Inventory Turnover Choose Numerator: Inventory Tumover times Days' sales in Inventory Choose Denominator: x Days Days' Sales in inventory x 365 x 365. Days' sales in inventory days