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While performing a detailed review of its financial records, Doors Unlimited noted the following ending inventory errors: 2020 2021 2022 Understated $43,000 Overstated $13,100 No

While performing a detailed review of its financial records, Doors Unlimited noted the following ending inventory errors:

2020 2021 2022
Understated $43,000 Overstated $13,100 No errors

2020 2021 2022
Ending inventory as reported $ 300,000 $ 375,000 $ 347,000
Cost of goods sold as reported 1,210,000 1,660,000 2,010,000
Profit as reported 295,000 471,000 607,000

Required: Calculate the corrected ending inventory and cost of goods sold amounts for each year by completing the following schedule:

2020 2021 2022
Corrected ending inventory
Corrected cost of goods sold
Corrected profit

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