Exercise 6-11 Blue Spruce Corp. reported the following income statement data for a 2-year period. 2018 2019 $211,500 $256,500 44,500 206,000 Sales revenue Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit 34,000 173,500 207,500 44,500 163,000 $48,500 250,500 55,000 195,500 $61,000 Blue Spruce Corp. uses a periodic inventory system. The inventories at January 1, 2018, a udy Prepare correct income statement data for the 2 years. 2018 2019 Sales Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit LETO 11 What is the cumulative effect of the inventory error on total gross profit for the 2 years? Click it you would like in