Lebo Hardware reported cost of goods sold as follows.

Lebo made two errors: (1) 2010 ending inventory was overstated $3,000, and (2) 2011 ending inventory was understated $6,000.InstructionsCompute the correct cost of goods sold for eachyear.

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2011 $ 30.000 175,000 205.000 35,000 2010 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold 150,000 170,000 30,000 $140,000 $170,000