Lucia Company reported cost of goods sold for Year 1 and Year 2 as follows: Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Year 1 Year 2 $130,000 $132,000 252,000 285,000 382,000 417,000 132,000 137,000 $250,000 $280,000 Lucia Company made two errors: 1) ending inventory at the end of Year 1 was understated by $17,000 and 2) ending inventory at the end of Year 2 was overstated by $8,000. Given this information, the correct cost of goods sold figure for Year 2 would be: Multiple Choice $305,000 O $272,000 A company's normal selling price for its product is $24 per unit. However, due to market competition, the selling price has fallen to $19 per unit. This company's current FIFO inventory consists of 240 units purchased at $20 per unit. Net realizable value has fallen to $17 per unit. Calculate the value of this company's inventory at the lower of cost or market. Multiple Choice 0 $4,080. $4,030. 0 0 O $2,180. $4,560