Identify the errors in the following schedules of the cost of merchandise sold for the ended May 31, 20Y4

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Cost of merchandise sold: Merchandise inventory, May 31, 20Y4.... Cost of merchandise purchased: $ 148,300 Purchases.. Purchases returns and allowances.. $1,110,000 55,000 Purchases discounts.. Freight in.. Total cost of merchandise purchased. 30,000 (22,000) Merchandise available for sale... 1,173,000 Merchandise inventory, June 1, 20Y3... Cost of merchandise sold. $1,321,300 91,300 $1,230,000