Elliotts Hardware reported cost of goods sold as follows.

		2016		2017
Beginning inventory		$ 20,000		$ 30,000
Cost of goods purchased		150,000		175,000
Cost of goods available for sale		170,000		205,000
Ending inventory		30,000		35,000
Cost of goods sold		$140,000		$170,000

Elliotts made two errors: (1) 2016 ending inventory was overstated $3,000, and (2) 2017 ending inventory was understated $5,000. Compute the correct cost of goods sold for each year.