Hamid€™s Hardware reported cost of goods sold as follows.

Hamid€™s made two errors: (1) 2013 ending inventory was overstated $3,000, and (2) 2014 ending inventory was understated $6,000.

Instructions
Compute the correct cost of goods sold for eachyear.

Transcribed Image Text:

2013 2014 20,000 30,000 150,000 175,000 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold 170,000 30,000 205,000 35,000 $140,000 $170,000