2. A physical inventory was taken at the end of both 2013 and 2014. Although the quantity of goods on hand was accurate, the physical quantities were incorrectly priced resulting in an overstatement...

2. A physical inventory was taken at the end of both 2013 and 2014. Although the quantity of goods on hand was accurate, the physical quantities were incorrectly priced resulting in an overstatement of ending inventory in 2013 and 2014 of $35,000 and $75,000, respectively.