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Sunland Enterprises reported cost of goods sold for 2020 of $1,330,000 and retained earnings of...

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Sunland Enterprises reported cost of goods sold for 2020 of $1,330,000 and retained earnings of $5,260,000 at December 31, 2020. Sunland later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $102,000 and $32,000, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings. Corrected cost of goods sold $ $ Corrected 12/31/2020 retained earnings $

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