Spears & Cantrell announced inventory had been overstated by $30 at the end of its 2012 second quarter. The error wasn't discovered and corrected in the company's periodic inventory system until after the end of the third quarter. The following table shows the amounts that were originally reported by the company d quarter The tolowing tabie shows the amounts that were orginaly repotled by the company (21 Net Sales Cost of Goods Sold Q1 Q2Q3 $3,000 $3,600 $3,750 2,490 2,100 2,655 Gross Profit $ 900 $1,110 $1,095