Question 18 3.85 pts Below are sales revenue and cost of goods sold (COGS) for the Thomas Corporation for 2020 and 2021 2020 2021 Sales revenue $10.000 $12.000 COGS: Beg. inv. 1,000 1.500 Purchases 2.000 8.500 COG Available 8.000 10.000 Ending inv. (1.500) (6.500) (2.000) (8.000) Gross profit $3,500 $4,000 Thomas Corporation discovers that the ending inventory above for 2020 was understated by $700. The correct ending inventory on December 31, 2020 was $2,200 rather than $1.500, the correct gross profit for 2020 and 2021 would be Gross profit in 2020 $4,200; in 2021 53,300. Gross profit in 2020 $4.200, in 2021 $4,000. Gross profit in 2020 $2,800 in 2021 84.700 Gross profit in 2020 $2,800; in 2021 $3,300. o