Exercise 6-11 (Part Level Submission) Monty Corp. reported the following income statement data for a 2-year period 2018 2019 Sales revenue $217,500 $257,500 Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory 35,000 186,500 221,500 45,000 176,500 $41,000 45,000 216,000 261,000 54,500 206,500 $51,000 Cost of goods sold Gross profit Monty Corp. 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 $6,000 Your answer is correct. Prepare correct income statement data for the 2 years. 2018 2019 Sales 217500 257500