Ace Company reported the following information for the current year: $ 411,000 Sales Cost of goods sold: Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit $ 133,500 274,000 407,500 145,000 262,500 $ 148,500 The beginning Inventory balance is correct. However, the ending inventory figure was overstated by $21,000. Given this Information, the correct gross profit would be: Multiple Choice $127,500 TO EA Multiple Choice O O $127,500. O $148,500 $169,500. $140,500. $112.500