ce Company reported the following information for the current year: Sales $ 422,000 Cost of goods sold: Beginning inventory $ 150,000 Cost of goods purchased 285,000 Cost of goods available for sale 435,000 Ending inventory 156,000 Cost of goods sold 279,000 Gross profit $ 143,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $32,000. Given this information, the correct gross profit would be