Requirement 1. Assume that the ending merchandise inventory was accidentally overstated by $1,800. What re the correct amounts for cost of goods sold and gross profit? Cost of goods sold in 2019 woukd be S What is the correct amount of gross profit? Gross profit in 2019 would be $ Requirement 2. How would the inventory error affect Hercula Pool Supplies's cost of goods sold and gross profi the year ended December 31, 2020, if the error is r t corrected in 2019? by S . Cost of goods sold for 2020 would be Data Table How would the inventory error affect Hercula Pool Supplies's gross profit for the year ended December 31, 2020, if the emor is not corrected in 20197 by S Gross profit for 2020 would be Sales Revenue 56,000 Cost of Goods Sold: Beginning Merchandise Inventory 3.800 28,600 Net Cost of Purchases Cost of Goods Available for Sale 32,400 5,000 Less: Ending Merchandise Inventory Cost of Goods Sold 27,400 28,600 Gross Profit Print Done