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PLEASE SOLVE Mountain Pool Supplies' merchandise inventory data for the year ended December 31, 2028, follow: View the inventory data. Read the requirements. Requirement 1.
PLEASE SOLVE
Mountain Pool Supplies' merchandise inventory data for the year ended December 31, 2028, follow: View the inventory data. Read the requirements. Requirement 1. Assume that the ending merchandise inventory was accidentally overstated by 32,100. What are the correct amounts for cost of goods sold and gross profit for year ended December 31, 20267 Cost of goods sold in 2026 would be Inventory data Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit - X Requirements 1. Assume that the ending merchandise inventory was accidentally overstated by $2.100. What are the correct amounts for cost of goods sold and gross profit for year ended December 31, 2026? 2. How would the inventory error affect Mountain Pool Supplies' cost of goods sold and gross profit for the year ended December 31, 2027, if the error is not corrected in 2026Step by Step Solution
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