Pina Colada Hardware reported cost of goods sold as follows. 2022 2021 Beginning inventory $ 34,000 $ 21,500 Cost of goods purchased 189,500 153,000 Cost of goods available for sale 223,500 174,500 Less: Ending inventory 36,500 34,000 Cost of goods sold $187,000 $140,500 Pina Colada made two errors: 1.2021 ending inventory was overstated by $3,200. 22 ending inventory was understated by $6,200.