Sharpener Supplies' $ 4.0 million cost of inventory at the end of last year was understated by $1.2 million. Was last year's reported gross profit of $2.8 million overstated, understated, or correct? What was the correct amount of gross profit last year? Is this year's gross profit of $3.7 million overstated, understated, or correct? What is the correct amount of gross profit for the current year? Was last year's reported cost of goods sold of $5.2 million overstated, understated, or correct? What was the correct amount of cost of goods sold last year? Is this year's cost of goods sold of $5.9 million overstated, understated, or correct? What is the correct amount of cost of goods sold for this year? Was last year's reported gross profit of $2.8 million overstated, understated, or correct? What was the correct amount of gross profit last year? Last year's reported gross profit of $2.8 million was. The correct amount of gross profit for last year is $ million. Is this year's gross profit of $3.7 million overstated, understated, or correct? What is the correct amount of gross profit for the current year? This year's reported gross profit of $3.7 million is. The correct amount of gross profit for this year is $ million. Was last year's reported cost of goods sold of $5.2 million overstated, understated, or correct? What was the correct amount of cost of goods sold last year? Last year's reported cost of goods sold of $5.2 million was. The correct amount of cost of goods sold for last year is $ million. Is this year's cost of goods sold of $5.9 million overstated, understated, or correct? What is the correct amount of cost of goods sold for this year? This year's reported cost of goods sold of $5.9 million is. The correct amount of cost of goods sold for this year is $ million