AZ Pool Supplies's merchandise inventory data for the year ended December 31, 2017, follow: E: (Click the icon to view the inventory data.) Requirements 1. Assume that the ending merchandise inventory was accidentally overstated by $1,800. What are the correct amounts for cost of goods sold and gross profit? 2. How would the inventory error affect AZ Pool Supplies's cost of goods sold and gross profit for the year ended December 31, 2018, if the error is not corrected in 2017? Requirement 1. Assume that the ending merchandise inventory was accidentally overstated by $1,800. What are the correct amounts for cost of goods sold and gross profit? Cost of goods sold in 2017 would be $ 34500 Data Table - X Sales Revenue $ 71,000 $ 3.600 Cost of Goods Sold: Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale 25,100 28,700 5.100 Less Ending Merchandise Inventory Cost of Goods Sold Enter your answer in the answer box and then click Check Answer 23.600 $ Gross Profit 47.400 Etti 3 parts remaining