Data Table 1 Sales Revenue $ 55,000 Cost of Goods Sold: Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold $ 3,400 37,400 40,800 6,300 34,500 $ 20,500 Gross Proft Requirements 1. Assume that the ending merchandise inventory was accidentally overstated by $2,000. What are the correct amounts for cost of goods sold and gross profit? How would the inventory error affect Mountain Pool Supplies's cost of goods sold and gross profit for the year ended December 31, 2020, if the error is not corrected in 2019? 2. Mountain Pool Supplies's merchandise inventory data for the year ended December 31, 2019, follow: EEB (Click the icon to view the inventory data.) Read the requirements Requirement 1. Assume that the ending merchandise inventory was accidentally overstated by $2,000. What are the correct amounts for cost of goods sold and gross profit? Cost of goods sold in 2019 would be S What is the correct amount of gross profit? Gross profit in 2019 would be $ Requirement 2. How would the inventory error affect Mountain Pool Supplies's cost of goods sold and gross profit for the year ended December 31, 2020, if the error is not corrected in 2019? Cost of goods sold for 2020 would be | Choose from any list or enter any number in the input fields and then continue to the next question. by S Requirement 2. How would the inventory error affect Mountain Pool Supplies's cost of goods sold and gross profit for the year ended December 31, 2020, if the error is not corrected in 2019? Cost of goods sold for 2020 would be bys How would the inventory error affect Mountain Pool Supplies's gross profit for the year ended December 31, 2020, if the error is not corrected in 2019? Gross profit for 2020 would be by s