While performing a detailed review of its financial records, Doors Unlimited noted the following ending inventory errors:

Required

Calculate the corrected ending inventory and cost of goods sold amounts for each year by completing the following schedule:

Transcribed Image Text:

2022 No e 2021 2020 Overstated $14,000 Understated $52,000 rrors 2021 2022 2020 $ 420,000 $ 392,000 2,100,000 652,000 Ending inventory as reported. Cost of goods sold as reported Profit as reported. $ 345,000 1,300,000 340,000 1,750,000 516,000 2020 2021 2022 Corrected ending inventory. Corrected cost of goods sold. Corrected profit.