CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVECAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE EMERGENCY?CAN YOU SOLVE Sheridan Corp. purchased merchandise during $2020$ on credit for $$805,000$; terms $2/10,$ n$/30.$ All of the gross liability except $$110,000$ was paid within the discount period. The remainder was paid within the $30-$day term. At the end of the annual accounting period, December $31,2020,90\%$ of the merchandise had been sold and $10\%$ remained in inventory. The company uses a periodic system. What dollar amounts should be reported for the final inventory and cost of goods sold under the net method? Assume that there was no beginning inventory. Amount Reported Final inventory $ Cost of goods sold $