For each of the independent events listed below, using a perpetual inventory system, analyze the impact on the indicated items at the end of the current year by placing the appropriate code letter in the box under each item.
Code: O = item is overstated
U = item is understated
NA = item is not affected 
Definitions:
Presidential Election
A formal decision-making process by which a country's citizens choose the President, the head of the state government.
1940
A year marked by the ongoing events of World War II, including significant global military engagements.
National Association
Often refers to organizations that operate on a national level in various fields, representing professionals, interests, or advocacy in specific areas.
Graduate Colored Nurses
Refers to African American nurses who completed nursing education, emphasizing their pioneering role in a segregated United States healthcare system.
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