X Your answer is incorrect Metlock, Inc. reported cost of goods sold as follows. 2017 2016 Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold $ 28,140 166,710 194,850 37,700 $157,150 s 21,680 172,570 194,250 28,140 $ 166,110 Metlock, Inc. made two errors: 1. 2016 ending inventory was overstated by $2,190 2. 2017 ending inventory was understated by $ 5,020. Compute the correct cost of goods sold for each year. 2016 2017 The correct cost of goods sold 154,960 171,130