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Hull Company Reported the Following Income Statement Information for 2015

Question 122

Multiple Choice

Hull Company reported the following income statement information for 2015: Hull Company reported the following income statement information for 2015: The beginning inventory balance for Year 1 is correct.However,the ending inventory figure for Year 1 was overstated by $20,000.Given this information,the correct gross profit figure for 2015 would be: A) $149,000. B) $169,000. C) $129,000. D) $142,000. E) $112,000. The beginning inventory balance for Year 1 is correct.However,the ending inventory figure for Year 1 was overstated by $20,000.Given this information,the correct gross profit figure for 2015 would be:


A) $149,000.
B) $169,000.
C) $129,000.
D) $142,000.
E) $112,000.

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