Current Attempt in Progress Sheridan Hardware reported cost of goods sold as follows. Beginning inventory...
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Current Attempt in Progress Sheridan Hardware reported cost of goods sold as follows. Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Sheridan made two errors: 1. 2. 2021 The correct cost of goods sold $ $27,600 Save for Later 156,400 184,000 36,800 $147,200 Compute the correct cost of goods sold for each year. 2022 $36,800 2021 179,400 2021 ending inventory was overstated $3,680. 2022 ending inventory was understated $6,440. 216,200 $174,800 41,400 $ 2022
Current Attempt in Progress Sheridan Hardware reported cost of goods sold as follows. Sheridan made two errors: 1. 2021 ending inventory was overstated $3,680. 2. 2022 ending inventory was understated $6,440. Compute the correct cost of goods sold for each year
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