A business gives the following data. Year 1: profit for the year $30000$, cost of goods sold $240000$. Year 2: profit for the year $40000$, cost of goods sold $320000$. The owner later finds that, at the close of year 1, inventory had been overstated by $2000$. What are the adjusted profits for the year and cost of goods sold figures?
- AYear 1 profit $28000$, Year 1 cost of goods sold $238000$; Year 2 profit $42000$, Year 2 cost of goods sold $322000$
- BYear 1 profit $28000$, Year 1 cost of goods sold $242000$; Year 2 profit $40000$, Year 2 cost of goods sold $320000$
- CYear 1 profit $28000$, Year 1 cost of goods sold $242000$; Year 2 profit $42000$, Year 2 cost of goods sold $318000$
- DYear 1 profit $32000$, Year 1 cost of goods sold $238000$; Year 2 profit $38000$, Year 2 cost of goods sold $318000$