(Answered) Problemindigo enterprises reported cost of goods sold for

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Indigo Enterprises reported cost of goods sold for 2017 of $1,371,500 and retained earnings of $5,442,800 at December 31, 2017. Indigo later discovered that its ending inventories at December 31, 2016 and 2017, were overstated by $109,170 and $35,290, respectively.

Determine the corrected amounts for 2017 cost of goods sold.

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