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Question 5 of 22 -15 View Policies Current Attempt in Progress Flint Enterprises...

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Accounting

Question 5 of 22
-15
View Policies
Current Attempt in Progress
Flint Enterprises Ltd. reported cost of goods sold for 2023 of $2.3 million and retained earnings of $4.4 million at December 31,2023. Flint later discovered that its ending inventories at December 31,2022 and 2023, were overstated by $160,000 and $42,000, respectively.
Determine the correct amounts for 2023 cost of goods sold and December 31,2023 retained earnings.
Corrected cost of goods sold
$
Corrected 12/31/23 retained earnings
$
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