Question 17 Smart Watch Company reported the following income statement data for a 2~year period. 2015 2017 Sales revenue $210,000 $260,000 Cost of goods sold Beginning inventory 33,000 44,000 Cost of goods purchased 193,000 212,000 Cost of goods available for sale 226,000 255,000 Ending inventory 44,000 55,000 Cost of goods sold 182,000 201,000 Gross prot $28,000 $59,000 Smart uses a periodic inventory system. The inventories at January 1, 2015, and December 31, 2017, are correct. However, the ending inventory at December 31, 2016, was overstated $6,000. V (3) Prepare correct income statement data for the 2 years. 1016 2017 Sales Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale l l l Ending inventory J [ Cost of goods sold ' Gross prot 3 Attempts: 0 of 1 used