Current Attempt in Progress Sunland Technologies Company reported the following income statement data for a 2-year period. 2022 2023 Sales revenue $ 220,000 $ 250,000 Cost of goods sold Beginning inventory 28,000 44,000 Cost of goods purchased 172,000 202,000 Cost of goods available for sale 200,000 246,000 Ending inventory 44,000 50,000 Cost of goods sold 156,000 196,000 Gross profit $ 64,000 $ 54,000 Sunland uses a periodic inventory system. The inventories at January 1, 2022, and December 31, 2023. are correct. Howe ending inventory at December 31, 2022 was overstated $7,000. to search o Prepare correct income statement data for the 2 years. 2022 2023 Sales $ $ Cost of goods sold Beginning inventory I Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold $ Gross profit e Textbook and Media Ending inventory Cost of goods sold Gross profit $ $ eTextbook and Media What is the cumulative effect of the inventory error on total gross profit for the 2 years? Cumulative effect of the inventory error $ e Textbook and Media Save for Later Attempts