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?

 

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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 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