Sheffield Watch Company reported the following income statement data for a 2-year period, 2019 $240,000 2020 $265,000 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 26,000 171.000 197,000 40.000 157.000 $83.000 40,000 210,000 250.000 46.000 204.000 $61.000 Sheffield uses a periodic Inventory system. The inventories at January 1, 2019, and December 31, 2020, are correct. However, the ending inventory at December 31, 2019, was overstated $4.000 Prepare correct income statement data for the 2 years $ 5 7 B w E R P Y 0 S D F G H L J V X C V . N M command option nmand Prepare correct Income statement data for the 2 years 2019 2020 Sales Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross pront $ eTextbook and Media Attempts of used 09 X E R T C O P s D F . J K A V B N M E command option