Send to Gradebook Question 12 View Policies Current Attempt In Progress Metlock, Inc. reported the following income statement data for a 2-year 2018 2019 $210.500 $253.000 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 35,000 180,000 215.000 44,000 171.000 $39.500 44.000 214.000 258.000 54.500 200.500 $49.500 Maling sa periodic inventory item. The inventories at January 1, 2010, and December 31, 2019. ure correct. However the ending inventory at December 312018 Low e d 500 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 e Textbook 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 $ eTextbook and Media