Assume that the ending Merchandise inventory was accidentally understated by $300. What are the correct amounts for Cost of Goods Sold and Gross Profit?

Data for Shelby Company for the current year is as follows: Cost of Goods Sold =$7,700 Gross Profit =$1,700 Cost of Goods Sold =$8,300 Gross Profit =$2,300 Cost of Goods Sold =$8,300 Gross Profit $1,700 Cost of Goods Sold =$7,700 Gross Profit $2,300 IDONT KNOW YET