Poppy Co. uses a periodic inventory system. Beginning inventory on January 1 was understated by $31,300, and its ending inventory on December 31 was understated by $15,500. In addition, a purchase of merchandise costing $20,800 was incorrectly recorded as a $2,080 purchase. None of these errors were discovered until the next year. As a result, Poppy's cost of goods sold for this year was: