Crane Jewelry reported the following income statement data for a 2-year period. 2019 2020 Sales revenue HK$2,100,000 HK$2,500,000 Cost of goods sold Beginning inventory 320,000 440,000 Cost of goods purchased 1,730,000 2,020,000 Cost of goods available for sale 2,050,000 2,460,000 Ending inventory 440,000 520,000 Cost of goods sold 1,610,000 1,940,000 Gross profit HK$490,000 HK$560,000 Crane uses a periodic inventory system. The inventories at January 1, 2019, and December 31, 2020, are correct. However, the ending inventory at December 31, 2019, was understated HK$60,000. Prepare correct income statement data for the 2 years. Sales HK$ Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit HK$ 2019 2,100,000 HK$ 320,000 2020 2,500,000 440,000 1,730,000 2,020,000 2,050,000 2,460,000 500,000 i 520,000 1.550,000 i 1,940,000 550,000 HK$ 0560,000