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a company account shows a gross profit for the year of $32,500.After the accounts were prepared it was found that the opening inventory had been overstated by $2400 and the closing inventory had been understated by $3400. What is the corrected gross profit for the year ?
A.$26 700 B.$31 500 C.$33 500 D $38 300
Pls correct my working as per below :
GP 32 500
+ opn overstated 2400
+ clg understated 3400
GP 33 500why opening inventory should be minus ? because the correct answer is D.
thank you
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