TB MC Qu. 05-84 (Algo) Ace Company reported the following... Ace Company reported the following information for the current year: $ 423, eee Sales Cost of goods sold: Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit $ 151,5ee 286,000 437,500 157,000 280, see $ 142, see ces The beginning inventory balance is correct. However, the ending inventory figure was overstated by $33,000. Given this information, the correct gross profit would be