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Oriole Enterprises reported cost of goods sold for 2020 of $1,400,800 and retained earnings of $5,649,900 at December 31, 2020. Oriole later discovered that its

Oriole Enterprises reported cost of goods sold for 2020 of $1,400,800 and retained earnings of $5,649,900 at December 31, 2020. Oriole later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $118,990 and $34,640, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.

Corrected cost of goods sold

$enter a dollar amount

Corrected 12/31/20 retained earnings

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