Errors in Inventory Counts The following information was taken from the records of Spencer Enterprises: 2013 2012 $63,000 $83,000 548,000 508,000 Cost of goods available for sale 611,000 591,000 93,000 63,000 $518,000 $528,000 Beginning inventory Cost of goods purchased Ending inventory Cost of goods sold The following two errors were made in the physical inventory counts 1. 2012 ending inventory was overstated by $33,000. 2. 2013 ending inventory was understated by $28,000. Compute the correct cost of goods sold for both 2012 and 2013. 2013 2012 Cost of goods sold