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Lebo Hardware reported the cost of goods sold as follows:
2011
2012
150,650
171,550
29,080
35,440
$139,800
$165,190
Lebo made two errors: (1) 2011 ending inventory was overstated by $3,340 and (2) 2012 ending inventory was understated $6,290.
Compute the correct cost of goods sold for each year.
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