Question 7 of 15 - / 1.5 Waters Hardware reported cost of the goods sold as follows. 2020 2021 $30,000 $40,000 220,000 245,000 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending Inventory Cost of goods sold 250,000 285,000 40,000 45,000 $210,000 $240,000 Waters made two errors: (1) 2020 ending inventory was overstated $5,000, and (2) 2021 ending inventory was understated $ (a) Compute the correct cost of goods sold for each year, 2020 2021 Cost of goods sold $ Question 7 of 15 ./15 E View Polides Current Attempt in Progress Waters Hardware reported cost of the goods sold as follow 2020 2021 $30,000 $40,000 Beginning inventory Cost of goods purchased Cost of goods available for sale 220,000 245.000 285.000 250.000 Ending inventory 40.000 45.000 Cost of goods sold $210,000 $240.000 Waters made two errors: (1) 2020 ending inventory was overstated $5.000, and 1212021 ending inventory was understated 58.000 Compute the correct cost of goods sold for each year. 2020 2021 Cost of goods sold $