cheyennes Hardware uses the periodic inventory system and reported cost of goods sold as follows....
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Accounting
cheyennes Hardware uses the periodic inventory system and reported cost of goods sold as follows.
| 2018 | 2019 | |||
|---|---|---|---|---|
| Beginning inventory | $ 22,500 | $ 32,500 | ||
| Cost of goods purchased | 152,000 | 196,500 | ||
| Cost of goods available for sale | 174,500 | 229,000 | ||
| Ending inventory | 32,500 | 38,500 | ||
| Cost of goods sold | $142,000 | $190,500 |
cheyennes made two errors: (1) 2018 ending inventory was overstated $3,600, and (2) 2019 ending inventory was understated $6,150. Compute the correct cost of goods sold for each year.
| 2018 | 2019 | |||
|---|---|---|---|---|
| Cost of goods sold | $. | $ |
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