Errors in Inventory Counts The following information was taken from the records of Spencer Enterprises:

	2013	2012
Beginning inventory	$195,000	$215,000
Cost of goods purchased	680,000	640,000
Cost of goods available for sale	875,000	855,000
Ending inventory	225,000	195,000
Cost of goods sold	$650,000	$660,000

The following two errors were made in the physical inventory counts: 1. 2012 ending inventory was overstated by $11,000. 2. 2013 ending inventory was understated by $34,000. Compute the correct cost of goods sold for both 2012 and 2013.