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Hudson Pool Supplies' merchandise inventory data for the year ended December 31, 2025, follow: (Click the icon to view the inventory data.) Read the
Hudson Pool Supplies' merchandise inventory data for the year ended December 31, 2025, follow: (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 2025 would be What is the correct amount of gross profit? Gross profit in 2025 would be Requirement 2. How would the inventory error affect Hudson Pool Supplies' cost of goods sold and gross profit for the year ended December 31, 2026, if the error is not corrected in 20257 Cost of goods sold for 2026 would be by How would the inventory error affect Hudson Pool Supplies' gross profit for the year ended December 31, 2026, if the error is not corrected in 2025? Gross profit for 2026 would be by
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