Salt Lake Pool Supplies' merchandise inventory data for the year ended December $31,2026,$ follow:

View the inventory data.

Read the requirements.

Cost of goods sold in $2026$ would be

What is the correct amount of gross profit?

Gross profit in $2026$ would be

Cost of goods sold for $2027$ would be

by

How would the inventory error affect Salt Lake Pool Supplies' gross profit for the year ended December $31,2027,$ if the error is not corrected in $2026?$

Gross profit for $2027$ would be

by

Requirements

Assume that the ending merchandise inventory was accidentally overstated

by $$2,400.$ What are the correct amounts for cost of goods sold and gross

profit for year ended December $31,2026?$

How would the inventory error affect Salt Lake Pool Supplies' cost of goods

sold and gross profit for the year ended December $31,2027,$ if the error is not

corrected in $2026?$

Inventory data