Hull Company reported the following income statement information for the current year: $428,000 Sales Cost of goods sold: $159,000 291,000 Beginning inventory Cost of goods purchased 450,000 Cost of goods available for sale 162,000 Ending inventory 288,000 Cost of goods sold $140,000 Gross profit The beginning inventory balance is correct. However, the ending inventory figure was overstated by $38,000. Given this information, the correct gross profit would be: Multiple Choice $102,000. $140,000. $178,000. $115,000. $121,000