hull company reported the following income statement information for the current year: sales $ 417,000 cost of goods sold: beginning inventory $ 142,500 cost of goods purchased 280,000 cost of goods available for sale 422,500 ending inventory 151,000 cost of goods sold 271,500 gross profit $ 145,500 the beginning inventory balance is correct. however, the ending inventory figure was overstated by $27,000. given this information, the correct gross profit would be:
