Blossom Company reported cost of goods sold as follows. 2017 2016 Beginning inventory $ 32,380 $18,370 Cost of goods purchased 184,210 172,410 Cost of goods available for sale 216,590 190,780 Less: Ending inventory 39,050 32,380 Cost of goods sold $177.540 $158,400 Blossom Company made two errors: 2016 ending inventory was overstated by $2,050. 1. 2. 2017 ending inventory was understated by $5,300.