14 Problem 6-10A Correct inventory understatement and calculate gross profit ratio (LO6-7, 6-9) [The following information applies to the questions displayed below) Over a four-year period. Jackie Corporation reported the following series of gross profits. Part 1 of 2 Cost of goods sold Gross profit $66,e00 $66,800 $74,000$99, e00 32,000 46,28,000 48,900 133 In 2021, the company performed a comprehensive review of its inventory accounting procedures. Based on this review company records reveal that ending inventory was understated by $11,000 in 2019. Inventory in all other years is correct Problem 6-10A Part 1 Required: 1. Calculate the gross profit ratio for each of the whole percent.) 2018 2019 2020 2021 Prev 14 15 of 15 Next> 15 1.38 points company records reveal that ending inventory was understated by $11,000 in 2019 Inventory in all other years is correct