The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation

The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation for the just-completed year.

Sales                                                                                   1,150

Raw materials inventory, beginning                                             15

Raw materials inventory, ending                                                 40

Purchases of raw materials                                                      150

Direct labor                                                                           250

Manufacturing overhead                                                          300

Administrative expenses                                                         500

Selling expenses                                                                   300

Work in process inventory, beginning                                      100

Work in process inventory, ending                                          150

Finished goods inventory, beginning                                         80

Finished goods inventory, ending                                            120

Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is the impact on the financial statements if the ending finished goods inventory is overstated or understated?