A company reported ending inventory of $105,000 in year 1. It was discovered in year 2 that the correct value of the ending inventory was $88,000 for year 1. Complete the following table based on this information. Assume the company uses the perpetual inventory system.

Question 5 Take me to the text Not checked Marked out of 7.00 A company reported ending inventory of $105,000 in year 1. It was discovered in year 2 that the correct value of the ending inventory was $88,000 for year 1. Complete the following table based on this information. Assume the company uses the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Enter a negative sign as appropriate for the Profit(Loss) line item. P Flag question Item Reported Correct Amount Inventory $105,000 $ Current Assets $164,000 $ Total Assets $579,000 $ Owner's Equity, Year 1 $192,000 $ Sales $960,000 $ Cost of Goods Sold $480,000 $ Profit (Loss) for Year 1 $7,000 $ Check Contact us! Note: The "check" button does not submit your attempt.To submit the attempt, go to the end of the quiz alu VIILK UIT