Required information Problem 6-10A (Algo) Correct inventory understatement and calculate gross profit ratio (LO6-7, 6-9) [The following information applies to the questions displayed below.] Over a four-year period, Custard Corporation reported the following series of gross profits. In 2024, the company performed a comprehensive review of its inventory accounting procedures. Based on this review, company records reveal that ending inventory was understated by $9,350 in 2022 . Inventory in all other years is correct. roblem 6-10A (Algo) Part 1 equired: Calculate the gross profit ratio for each of the four years based on amounts originally reported. (Round your answers to the earest whole percent.)
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