The ACME Company began business on Janaury 1, 2014. During 2014 ACME had the following: ending inventory according to their records net income retained earnings cost of goods sold 10,000 40,000 40,000 100,000 o At the end of 2015 ACME had the following: ending inventory according to their records net income retained earnings cost of goods sold 30,000 0,000 90000 130,000 At the end of 2016 ACME had the following: ending inventory according to their records net income retained earnings cost of goods sold 60,000 80,000 170,000 140,000 At the beginning of 2017, ACME decided to go public and had to have an audit: The auditor found the following Because they have many stores, ACME divides the counting of inventory between Jack and Jill. Management sums Jack's total and ill's total to get ending inventory 2014; Neither Jack nor Jill counted the $5000 of merchandise in the Bartlett store 2015: Both Jack and jill counted the $8000 of inventory in the Germantown store