Bakery reprorts net sales revenue of 4 58,000 and cost of goods sold 22,000. Correct gross profit if the company made either of the following independent accounting error.

A) Ending merchandise inventory is overstated by $6,000.

B) Ending merchandise inventory is understated by $6,000.

Cost of Goods Sold and Gross Profit Corrected for the Error Ending Merchandise Inventory: As Reported(a) Overstated (b) Understated by $6,000 Incorrect by $6,000 Net sales revenue Cost of goods sold Gross profit 58,000 $ 22,000 58,000 $ 58,000