Brief Exercise 8-10 X Your answer is incorrect. Try again. Coronado Enterprises reported cost of goods sold for 2020 of $1,486,500 and retained earnings of $5,034,000 at December 31, 2020. Coronado later discovered that its ending inventories by $119,890 and $32,360, respectively. December 31, 2019 and 2020, were overstated Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings. Corrected cost of goods sold 1574030 Corrected 12/31/20 retained earnings 5121530 Click if you would like to Show Work for this question: Open Show Work