Errors in Inventory Counts The following information was taken from the records of Spencer Enterprises:

	2013	2012
Beginning inventory	$59,000	$79,000
Cost of goods purchased	540,000	504,000
Cost of goods available for sale	599,000	583,000
Ending inventory	89,000	59,000
Cost of goods sold	$510,000	$524,000

The following two errors were made in the physical inventory counts: 1. 2012 ending inventory was overstated by $25,000. 2. 2013 ending inventory was understated by $20,000. Compute the correct cost of goods sold for both 2012 and 2013.

	2013	2012
Cost of goods sold	$Answer	$Answer