Book Ask TB MC Qu. 05-84 (Algo) Ace Company reported the following... Ace Company reported the following information for the current year: Sales Cost of goods sold: Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Print erences Gross profit $ 419,000 $ 145,500 282,000 427,500 153,000 274,500 $ 144,500 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $29,000. Given this Information, the correct gross profit would be: Multiple Choice