So, I need an explanation as to how to calculate the Cost of Goods Sold in the corrected income statement. I understand how to obtain everything else prior, and after.

I just could not figure out how to calculate the Cost of Goods Sold which is why I got the rest of the numbers wrong. If you could just simply explain to me how to calculate the corrected Cost of Goods Sold, I would immensely appreciate it! Posting all that's inquired below:

Natural Bite Grocery reported the following comparative income statements for the years ended September 30, 2025 and 2024:

During 2025, Natural Bite Grocery discovered that ending 2024 merchandise inventory was overstated by $ 4,800.

Data Table ive inc ateme ding 2 Natural Bite Grocery Income Statements Years Ended September 30, 2025 and 2024 Site Gr Stater 2025 ber3 Net Sales Revenue 2024 $ 120,000 $ 138,000 Cost of Goods Sold: Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale $ 16,000 69,000 9,500 68,000 85,000 19,000 77,500 16,000 Less: Ending Merchandise Inventory Cost of Goods Sold 66,000 61,500 Gross Profit 72,000 23,000 58,500 20,000 Operating Expenses Net Income $ 49,000 $ 38,500 or tap Print Done Natural Bite Grocery reported the following comparative income statements for the years ended September 30, Click the icon to view the comparative income statements.) During 2025, Natural Bite Grocery discovered that ending 2024 merchandise inventory was overstated by $4,80 Read the requirements. 2024 $ 120,000 $ 9,500 68,000 Years Ended September 30, 2025 and 2024 2025 Sales Revenue $ 138,000 Cost of Goods Sold: Beginning Merchandise Inventory 11,200 Net Cost of Purchases 69,000 Cost of Goods Available for Sale 80,200 Less: Ending Merchandise Inventory 19,000 Cost of Goods Sold 61,200 Gross Profit 76,800 Operating Expenses 23,000 $ 53,800 Net Income 77,500 11,200 66,300 53.700 20,000 $ 33,700 .-.-. ---...WH- LR.-I ---- L. This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers