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Tamarisk's Hardware uses the periodic inventory system and reported cost of goods sold as follows. 2018 2019 Beginning inventory Cost of goods purchased Cost of
Tamarisk's Hardware uses the periodic inventory system and reported cost of goods sold as follows. 2018 2019 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold $ 23,000 150,000 173,000 34,000 $139,000 $ 34,000 182,500 216,500 37,500 $179,000 Tamarisk's made two errors: (1) 2018 ending inventory was overstated $3,550, and (2) 2019 ending inventory was understated $6,600. Compute the correct cost of goods sold for each year. 2018 2019 Cost of goods sold $ $
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