Ulrich had cost of goods sold of $6.7 million, ending inventory of $2.2 million, and average inventory of $1.9 million. Its days' sales in inventory equals (round your final answer to the nearest whole number): Multiple Choice 120. 104. 60. 180. 35.

Ace Company reported the following information for the current year:

Sales	$ 430,000
Cost of goods sold:
Beginning inventory	$ 162,000
Cost of goods purchased	293,000
Cost of goods available for sale	455,000
Ending inventory	164,000
Cost of goods sold	291,000
Gross profit	$ 139,000

The beginning inventory balance is correct. However, the ending inventory figure was overstated by $20,000. Given this information, the correct gross profit would be:

Multiple Choice

• $119,000.

• $159,000.

• $112,000.

• $142,000.

• $139,000.