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Current Attempt in Progress Oriole Hardware reported cost of goods sold as follows. Oriole made two errors: (1) 2019 ending inventory was overstated $4,300, and
Current Attempt in Progress Oriole Hardware reported cost of goods sold as follows. Oriole made two errors: (1) 2019 ending inventory was overstated $4,300, and (2) 2020 ending inventory was understated $6,600. (a) Your answer is partially correct. Compute the correct cost of goods sold for each year. Attempts: 2 of 2 used (b) What correcting entry would Oriole make for error (2)? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)
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