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Hull Company reported the following income statement information for the current year. $410,000 13:00 Sales Cost of goods sold: Beginning inventory Cost of goods purchased
Hull Company reported the following income statement information for the current year. $410,000 13:00 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 $ 132,000 273,000 405,000 144,000 261,000 $149,000 Chapters 4-6) Help Save & Exit Submit Hull Company reported the following income statement Information for the current year sales Cost of goods soldi Beginning inventory Cont of goods purchased cost of goods available for sale Inding inventory Cost of goodin nold Gross profit $410,000 $132,000 273,000 405,000 144,000 261,000 $149,000 The beginning Inventory balance is correct. However, the ending inventory figure was overstated by $20,000, Given this information, the correct gross profit would be
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