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Entity F (seller) uses a perpetual inventory system. On September 21, Entity G (buyer) purchased merchandise from Entity F for $5,000, terms 310 , net 30 , Unknown to Entity G, the merchandise cost Entitv F $4 inn EntityG 's entry record this transaction is: 12.3 points Entity C uses a periodic irwentory system, It understated its purchases in 2024 by $6,000 (a suppliers imvice for merchandive purchased in 2024 was not receivod unti 2025). The effect of this error on 2024's cost of goods sold (COGS) and net income (NI), respectively are: COGS overstated and NI understated COGS overstated and Ni overstated COGS understated and NI overstated COGS understated and NI understated Entity F (seller) uses a perpetual inventory system. On September 21, Entity G (buyer) purchased merchandise from Entity F for $5,000, terms 310 , net 30 , Unknown to Entity G, the merchandise cost Entitv F $4 inn EntityG 's entry record this transaction is: 12.3 points Entity C uses a periodic irwentory system, It understated its purchases in 2024 by $6,000 (a suppliers imvice for merchandive purchased in 2024 was not receivod unti 2025). The effect of this error on 2024's cost of goods sold (COGS) and net income (NI), respectively are: COGS overstated and NI understated COGS overstated and Ni overstated COGS understated and NI overstated COGS understated and NI understated

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