Hull Company reported the following income statement information for the current year $426,000 Sales Cost of goods sold: Beginning inventory Cost of goods purchased . Cost of goods available for sale Ending inventory Cost of goods sold Gross profit $156,000 289,000 445,000 160,000 285,000 $141,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $36,000. Given this information, the correct gross profit would be: $141,000. 177000 $120.000. S105,000. S118.000