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Current Attempt in Progress Skysong Hardware reported cost of goods sold as follows. 2022 2021 Beginning inventory $35,000 $20,000 Cost of goods purchased 188,000)
Current Attempt in Progress Skysong Hardware reported cost of goods sold as follows. 2022 2021 Beginning inventory $35,000 $20,000 Cost of goods purchased 188,000) 154,000 Cost of goods available for sale 223.000 174,000 Less: Ending inventory 38,000 35,000 Cost of goods sold $185,000 $139,000 Skysong made two errors: 1.2021 ending inventory was overstated by $3,150. 2.2022 ending inventory was understated by $6,200. Compute the correct cost of goods sold for each year. Cost of goods sold $ 2022 2021
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