Exercise 6-11 (Part Level Submission) Kingbird, Inc. reported the following income statement data for a 2-year period. 2018 2019 $259,500 $217,000 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 34,500 179,000 213,500 45,000 168,500 $48,500 45,000 219,000 264,000 53,000 211,000 $48,500 Kingbird, Inc. uses a periodic inventory system. The inventories at January 1, 2018, and December 31, 2019, are correct. However, the ending inventory at December 31, 2018, was overstated $5,000. (a) Prepare correct income statement data for the 2 years. (a) Prepare correct income statement data for the 2 years. 2018 2019 $ $ =yPLUS Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit LINK TO TEXT