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8. The Shirley's Gourmet Foods' merchandise inventory data for the year ended December 31, 2018, follow: (Click the icon to view the data.) Assume that
8. The Shirley's Gourmet Foods' merchandise inventory data for the year ended December 31, 2018, follow: (Click the icon to view the data.) Assume that the ending merchandise inventory was accidentally overstated by $1,800. What are the correct amounts for cost of goods sold and gross profit? Assuming that the ending merchandise inventory was accidentally overstated by $1,800, the correct amount for cost of goods sold is $ Assuming that the ending merchandise inventory was accidentally overstated by $1,800, the correct amount for gross profit is i Data Table x Sales Revenue $ 60,000 Cost of Goods Sold: Beginning Merchandise Inventory 3,890 20,000 Net Cost of Purchases 23,890 5,500 Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold 18,390 41,610 Gross Profit
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