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Indigo Hardware Limited reported the following amounts for its cost of goods sold and Inventory: 2021 2020 Cost of goods sold $167,600 $155,500 Ending inventory

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Indigo Hardware Limited reported the following amounts for its cost of goods sold and Inventory: 2021 2020 Cost of goods sold $167,600 $155,500 Ending inventory 37,700 29,500 Indigo made two errors in 2020. It recorded a $3,800 inventory purchase in transit at the end of 2020 that was shipped FOB destination and included this amount in ending inventory. Also during the year-end inventory count, staff forgot to count $5,000 of ending inventory that was on hand. No one discovered these errors in 2020. (a) Your answer is partially correct. Calculate the correct ending inventory and cost of goods sold amounts for each year. 2021 2020 Ending inventory 37700 30700 Cost of goods sold $ 150500 eTextbook and Media Save for Later Last saved 38 minutes ago. Attempts: unlimited Submit Answer Saved work will be auto-submitted on the due date. (b) The parts of this question must be completed in order. This part will be available when you complete the part above

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