Ayayai Furniture Shop Inc. uses the lower of cost and net realizable value basis (LCNRV) for reporting its inventory. The following data are available at December 31. Tables Large Small Chairs (a) Plastic 40 Wooden 39 Tables: Large Units Small 23 17 Chairs: Cost/Unit Net Realizable Value $258 144 46 What amount should be reported on Ayayai Furniture Shop's financial statements, after the lower of cost and net realizable value rule is applied to individual inventory items? 21 $256 156 LCNRV 43 30 Grouper Hardware Limited reported cost of goods sold as follows. Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Grouper made two errors: 2022 $28,900 187,200 216,100 40,200 $175,900 2021 $19,300 170,200 189.500 28,900 $160,600 1. 2021 ending inventory was overstated by $6,400. 2. 2022 ending inventory was understated by $3,200. Calculate the correct cost of goods sold for each year.