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Bradley Company had the following information reported for 2018 and 2019. Original Numbers 2018 2019 Beginning Inventory 30,000 60,000 Purchases 500,000 420,000 Cost of Goods

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Bradley Company had the following information reported for 2018 and 2019. Original Numbers 2018 2019 Beginning Inventory 30,000 60,000 Purchases 500,000 420,000 Cost of Goods Available for Sale 530,000 480,000 Cost of Goods Sold 470,000 425,000 Ending Inventory 60,000 55,000 1. 2018 Ending Inventory was Understated by $15,000 2. 2019 Ending Inventory was Overstated by $25,000 Calculate the correct Ending Inventory and Cost of Goods Sold for 2018 and 2019, using the correct Inventory adjustments stated above

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