assume that volleyball pro equipment had $850000 of sales during each of three consecutive years and it is purchased merchandise costing $550000 during each of the years. it is also maintaned a $225000 inventory from the beginning to the end of the three year period. however, it made an error at the end of the first year 2020 that caused its ending 2020 inventory to the appear on its statement at $205000 rather than the correct $225000.

calculate the actual amount of the company gross profit in each of the years.

prepare a comparative income statement to show the effect of this error on the company cost of goods sold and gross profit in 2020, 2021and 2022.