6 1 points TB MC Qu. 05-84 (Algo) Ace Company reported the following... Ace Company reported the following information for the current year: Sales Cost of goods sold: Beginning inventory $ 415,000 Cost of goods purchased eBook Ask Print References Cost of goods available for sale Ending inventory Cost of goods sold Gross profit $ 139,500 278,000 417,500 149,000 268,500 $ 146,500 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $25,000. Given this information, the correct gross profit would be: Multiple Choice