Question: choosing option: overstated , understated ,will not effect Ayayai Hardware Limited reported the following amounts for its cost of goods sold and Inventory: 2018 2017

choosing option: overstated , understated ,will not effect Ayayai Hardware Limited

reported the following amounts for its cost of goods sold and Inventory:

choosing option: overstated , understated ,will not effect

Ayayai Hardware Limited reported the following amounts for its cost of goods sold and Inventory: 2018 2017 $168,200 $154,500 Cost of goods sold 37,300 29,800 Ending inventory Ayayai made two errors: (1) ending inventory for 2018 was overstated by $2,200 and (2) ending inventory for 2017 was understated by $ 4,100. Assume that neither error has been found or corrected. Calculate the correct ending inventory and cost of goods sold amounts for each year. 2018 2017 Ending inventory Cost of goods sold

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