P$7-6($Algo$)$ Analyzing and Interpreting the Effects of Inventory Errors L$07-5$

$[$The following information applies to the questions displayed below.$]$

The income statement for Pruitt Company summarized for a four$-$year period shows the following:

An audit revealed that in determining these amounts, the ending inventory for $2017$ was overstated by $$15,000.$ The

company uses a periodic inventory system.

P$7-6$ Part $2$

Compute the gross profit percentage for each year before the correction and after the correction.

Note: Round your answers to the nearest whole percent.