Having gone through the principles II class, imagine you are an intern at Flora agro florists and its end year. The Warehouse Manager is overwhelmed with work and realizes that you can just be the perfect person to help him with inventory related issues after he realizes a glitch in some years records. The information for the years in question has been provided as follows ;

	2018 ($)	2019 ($)	2020 ($)
Non - Current assets Current Assets Total Assets Long term Liabilities Revenue Cost of sales	5,000 1,000 6,000 2,000 1,000 40% on cost for all the year	1,250 6,250 7,500 2,500 1,250	1,750 8,750 10,500 3,500 1,750

Assume that ending Inventory was overstated by K1, 500 in 2018 and Understated by K10, 000 ends of 2019.

Required

(I). Calculate the Cost of goods sold for the years 2018, 2019, and 2020.

(II). Calculate the Owners Equity value for the years 2018, 2019 and 2020.

(III). Calculate the correct values for the below listed items in 2018 and 2019 indicating the effect with an explanation.

(a)Current Assets (b). Non-current Assets (c)Total Assets (d)Long term Liabilities (e)Owners Equity (f)Revenue (g)Cost of sales (h)Gross Profit