-/1 View Policies Current Attempt in Progress Vaughn Enterprises reported cost of goods sold for 2020 of $1,274,500 and retained earnings of $5,056,200 at December 31, 2020. Vaughn later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $108,510 and $34,900, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings. $ Corrected cost of goods sold Corrected 12/31/20 retained earnings $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit