5 Hull Company reported the following income statement information for the current year Sales $423,000 Skipped cost of goods sold: Beginning inventory Cost of goods purchased Cost of goods available for sale 437,500 Ending inventory Cost of goods sold Gross profit $151,500 286,000 157,000 280, 500 $142,500 The beginning inventory balance is correct However, the ending inventory figure was overstated by $33,000 Given this information the correct gross profit would be