Chapter 6 Homework: Score: 0 of 5 pts E6-23 (book/static) 4 of 5 (4 complete) Hot Bread Bakery reported net sales revenue of $44,000 and cost of goods sold of $33,000 Compute Hot Bread's correct gross profit if the company made either of the following independent accounting errors. a. Ending merchandise inventory is overstated by $8,000 b. Ending merchandise inventory is understated by $8,000. Cost of Goods Sold and Gross Profit Corrected for the Error Ending Merchandise Inventory: As Reported-- (a) overstated by $8,000 (b) Understated by $8,000 Net sales revenue Cost of goods sold Gross profit S 44,000 $ 33,000 44,000 S 44,000