Evaluate each inventory error separately and determine whether it overstates or understates cost of goods sold and net income. 
Definitions:
Peer Relationships
Interactions and bonds formed between individuals of similar age groups, often offering mutual support and camaraderie.
Cultural Context
The environmental and social factors that influence the behaviors, beliefs, and values of a group or individual.
Conceptions of Themselves
How individuals perceive, conceive, and regard themselves, including their self-image and self-esteem.
Transgender Children
Children whose gender identity differs from the gender they were assigned at birth.
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