Grey Manufacturing Had the Following Transaction $\bullet$ Grey Ordered $67,000 of Inventory on December 30, 2010

Grey Manufacturing had the following transaction: $\bullet$ Grey ordered $67,000 of inventory on December 30, 2010. The inventory was shipped on December 31, 2010, with the terms FOB destination. Grey received the inventory on January 3, 2011.
If Grey included all these items in it ending inventory of 12/31/10, which of the following is the best statement regarding this treatment?

A) Grey made no mistake and rightfully included the items in its ending inventory for 12/31/10.
B) Grey made a mistake and wrongly overstated Inventory.
C) Grey made a mistake and wrongly overstated Cost of Goods Sold.
D) Grey made a mistake and wrongly overstated Retained Earnings.