Assume that in Year 1, the ending merchandise inventory is overstated by $30,000. If this is the only error in Years 1 and 2, fill in the items below, indicating which items will be understated(U), overstated(O), or correctly(C) stated for Year 2. 
Definitions:
Kingpin Bushing
A component in a vehicle's steering mechanism that provides a pivot point for the steering knuckle, ensuring smooth turning.
Freeplay
The amount of slack or movement allowed in a part or mechanism before engagement or resistance begins, often critical in mechanical linkages and controls.
Dial Indicator
A precision measuring tool used to measure small distances or angles with high accuracy.
Telescoping Gauges
Measuring instruments used to determine the internal size of a hole, slot, or similar feature, capable of adjusting to the size within a specified range.
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