Dowell Hardware reported cost of goods sold as follows. 2022
2021
Beginning inventory
$ 30,000
$ 20,000
Cost of goods purchased
175,000
164,000
Cost of goods available for sale
205,000
184,000
Less: Ending inventory
37.000
30,000
Cost of goods sold
$168,000
$154,000
Dowell Hardware made two errors:
1.
2021 ending inventory was overstated by $2,000.
2.
2022 ending inventory was understated by $5,000.

Compute the correct cost of goods sold for each year:

2021:
2022: