Question: Get solution Current Attempt in Progress Blossom Enterprises reported cost of goods sold for 2025 of $1,517,400 and retained earnings of $5,576,300 at December 31,
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Current Attempt in Progress Blossom Enterprises reported cost of goods sold for 2025 of $1,517,400 and retained earnings of $5,576,300 at December 31, 2025. Blossom later discovered that its ending inventories at December 31, 2024 and 2025, were overstated by $105,590 and $36,540, respectively. Determine the corrected amounts for 2025 cost of goods sold and December 31, 2025, retained earnings. Corrected cost of goods sold $ Corrected 12/31/25 retained earnings $Step by Step Solution
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