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Sheridan Hardware reported cost of goods sold as follows. They use the periodic inventory system....

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Accounting

Sheridan Hardware reported cost of goods sold as follows. They use the periodic inventory system. Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Sheridan made two errors: 1. 2. 2024 $ 18,240 151,320 169,560 31,870 $137,690 2025 $31,870 159,130 191,000 38,430 $152,570 2024 ending inventory was overstated by $2,170. 2025 ending inventory was understated by $4,890. Compute the correct cost of goods sold for each year.
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Sheridan Hardware reported cost of goods sold as follows. They use the periodic inventory system. Sheridan made two errors: 1. 2024 ending inventory was overstated by $2,170. 2. 2025 ending inventory was understated by $4,890. Compute the correct cost of goods sold for each year

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