(Click the icon to view the data ) Assume that the ending merchandise inventory was accidentally overstated by $2,050. What are the correct amounts for cost of goods soid and gross profit? Assuming ending merchandise inventory was overstated by $2,050, the correct amount for cost of goods sold is (Click the icon to view the data ) Assume that the ending merchandise inventory was accidentally overstated by $2,050. What are the correct amounts for cost of goods soid and gross profit? Assuming ending merchandise inventory was overstated by $2,050, the correct amount for cost of goods sold is