Hudson Pool Supplies's merchandise inventory data for the year ended December 31, 2019, follow EEE (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 $ What is the correct amount of gross profit? 43.400 Gross profit in 2019 wold be 25,600 Requirement 2. How would the inventory error affect Hudson Pool Supplies's cost of goods sold and gross profit for the year ended December 31, 2020, if the eror is not corrected in 2019? Cost of goods sold for 2020 would be by S Data Table Requirements Sales Revenue $ 69,000 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 Hudson 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: Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold S 3,500 43,500 47,000 5,600 2. 41,400 $ 27,600 Print Done Gross Profit Print Done