Lucia Company made two errors: 1) ending inventory at the end of Year 1 was understated by $17,000 and 2) ending inventory at the end of Year 2 was overstated by $8,000. Given this information What would be the correct cost of goods sold figure for Year 2?

 

Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Year 1 $ 130,000 252,000 382,000 132,000 $ 250,000 Year 2 $ 132,000 285,000 417,000 137,000 $ 280,000