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Bobs hardware reported cost of goods sold as follows: 2019 2020 Begininng inventory 23500...

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Accounting

Bobs hardware reported cost of goods sold as follows:

2019 2020

Begininng inventory 23500 34500

Cost of goods purchased 154500 175000

Cost of goods available for sale 178000 209500

Ending inventory 34500 36000

Cost of goods sold 143500 173500

Bob made two errors: 1. 2019 ending inventory was overstated by 3,300, and 2. 2020 ending inventory was understated 6450.

Compute the correct cost of goods sold for each year

2019 2020
Beg Inventory
Cost of Goods Purchased
Cost of Goods Available for Sale
Ending Inventory
Cost of goods Sold

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