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Business, 25.06.2020 06:01 swagisminecraft

Waterway Enterprises reported cost of goods sold for 2020 of $1,385,600 and retained earnings of $5,415,900 at December 31, 2020. Waterway later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $103,320 and $38,040, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.

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Waterway Enterprises reported cost of goods sold for 2020 of $1,385,600 and retained earnings of $5,...
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