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6. Here is the original schedule of cost of goods sold for Trigg Company for the years of 2019 through 2022: 1(Click the icon
6. Here is the original schedule of cost of goods sold for Trigg Company for the years of 2019 through 2022: 1(Click the icon to view the original schedule of cost of goods sold.) Print During the preparation of its 2022 financial statements, Trigg Company discovered that its 2020 ending inventory was understated by $300. Make the correction to the 2020 ending inventory and all other numbers in the schedule of cost of goods sold for any years affected and answer these questions. Make the correction to the 2020 ending inventory and all other numbers in the schedule of cost of goods sold for any years affected. Beginning inventory + Purchases 2022 2021 2020 2019 = Cost of goods available - Ending inventory = Cost of goods sold 1. What is the corrected cost of goods sold for 2020? The corrected cost of goods sold for 2020 is 2. Did the understatement of ending inventory in 2020 cause the 2020 cost of goods sold to be overstated or understated? The understatement of ending inventory in 2020 caused the 2020 cost of goods sold to be (1). 3. What is the corrected cost of goods sold for 2021? The corrected cost of goods sold for 2021 is 4. Did the understatement of ending inventory in 2020 cause the 2021 cost of goods sold to be overstated or understated? The understatement of ending inventory in 2020 caused the 2021 cost of goods sold to be (2).
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