Business, 10.03.2020 04:47 wcraig1998

Blossom Enterprises reported cost of goods sold for 2020 of $1,517,400 and retained earnings of $5,576,300 at December 31, 2020. Blossom later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $105,590 and $36,540, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.

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Blossom Enterprises reported cost of goods sold for 2020 of $1,517,400 and retained earnings of $5,5...