Exercise 6-9 Hamid's Hardware reported cost of goods sold as follows 2016 2017 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold $ 24,000 152,500 176,500 32,000 $144,500 $32,000 203,500 235,500 36,500 $199,000 Hamid's made two errors: (1) 2016 ending inventory was overstated $3,350, and (2) 2017 ending inventory was understated $6,450 Compute the correct cost of goods sold for each year. 2016 2017 Cost of goods sold