Question: Marigold Corp. reported the following income statement data for a 2-year period. 2018 2019 $215,000 $257,500 Cost of goods sold Beginning inventory Cost of goods
Marigold Corp. reported the following income statement data for a 2-year period. 2018 2019 $215,000 $257,500 Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory 32,500 192,500 225,000 44,000 181,000 $34,000 44,000 217,500 261,500 55,000 206,500 $51,000 Cost of goods sold Gross profit system. The inventories at January 1, 2018, and December 31, 2019, are correct. However, the inventory at December 31, 2018, was overstated $6,000. data for the 2 years. 2018 2019 /12018
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