Boles Hardware reported cost of goods sold as follows.

Boles made two errors:
1. 2009 ending inventory was overstated by $6,000.
2. 2010 ending inventory was understated by $3,000.

Instructions
Compute the correct cost of goods sold for eachyear.

Transcribed Image Text:

Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold 2010 $ 30,000 175,000 205,000 37,000 $168,000 2009 20,000 164,000 184,000 30,000 $154,000