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Business, 23.02.2021 03:30 Kaytlynshue2443

Ella Company reported the following income statement information for the current year: Sales $410,000 Cost of goods sold: Beginning inventory $132,000 Cost of goods purchased 273,000 Cost of goods available for sale 405,000 Ending inventory 144,000 Cost of goods sold 261,000 Gross profit $149,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $20,000. Given this information, the correct gross profit would be:

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Ella Company reported the following income statement information for the current year: Sales $410,00...

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