ml ork Help Save & Che Exercise 5-12 Analysis of inventory errors LO A2 Vibrant Company had $1050,000 of sales in each of three consecutive years 2017-2019, and it purchased merchandise costing $575,000 in each of those years. It also maintained a $350,000 physical inventory from the beginning to the end of that three-year period. In accounting for inventory, it made an error at the end of year 2017 that caused its year-end 2017 inventory to appear on its statements as $330,000 rather than the correct $350,000 1. Determine the correct amount of the company's gross profit in each of the years 2017-2019 2 Prepare comparative income statements to show the effect of this error on the company's cost of goods sold and gross profit for each of the years 2017-2019. Complete this question by entering your answers in the tabs below Requped Required 2 Determine the correct amount of the company's gross profit in each of the years 2017-2019 2017 Prev 8og ext earch