Question 2 Partially correct Mark 1.00 out of 2.00 P Flag question Errors in Inventory Counts The following information was taken from the records of Hawk Enterprises 2019 2018 Beginning inventory $55,000 $75,000 Cost of goods purchased 540,000 500,000 Cost of goods available for sale 595,000 575,000 Ending inventory entory 85,000 55,000 Cost of goods sold 5510,000 $520,000 The following two errors were made in the physical inventory counts: 1. 2018 ending inventory was overstated by $28,000. 2. 2019 ending inventory was understated by $17,000. Compute the correct cost of goods sold for both 2018 and 2019. 2019 2018 Cost of goods sold $ 1,088,000 X $ 548,000 Try another question like this one Previous Save Answers