Eller Co Received Merchandise on Consignment

Eller Co. received merchandise on consignment. As of January 31, Eller included the goods in inventory, but did not record the transaction. The effect of this on its financial statements for January 31 would be

A) net income, current assets, and retained earnings were overstated.
B) net income was correct and current assets were understated.
C) net income and current assets were overstated and current liabilities were understated.
D) net income, current assets, and retained earnings were understated.