P6-36B (similar to) Question Help Harmony Carpet's books show the following data ock the icon to view the income statements) in early 2020. auditors found that the ending merchandise inventory for 2017 was understand by Read the recrements 2010 W overned by SR. 000. The ending merchandise inventory at December 31, 2018, corre 899 133 Ending Merchandise entory Overstated by .000 Cost of Goom set Bege Merchandisiner Net Con of Purchases Cosad 2019 2018 $ 2017 $ $ 217,000 168,000 174,000 Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory $ $ 16,000 131,000 19,000 109,000 30,000 100,000 147,000 26,000 128,000 16,000 130,000 19,000 Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses 121,000 112,000 111,000 63,000 96,000 71,000 25,000 56,000 32,000 27.000 $ 24,000 Net Income 36,000