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Ace Company reported the followng information for the current year: The beginning inventory baiance is correct. However, the ending inventory figure was overstated by $34,000.

Ace Company reported the followng information for the current year: The beginning inventory baiance is correct. However, the ending inventory figure was overstated by $34,000. Given this information, the correct gross profit would be: Multiple Cholce $108.000 $119000 $121,000 $176,000 $142,000

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