Ub Post Question 4 of 4 -/1 III Whispering Winds Corp.reported these income statement data for a 2-year period. Sales revenue Beginning Inventory Cost of goods purchased Cost of goods available for sale Less Ending inventory Cost of goods sold Gross profit 2022 $252.500 37,310 209.680 246,990 49,870 197.120 $55.380 2021 $221.640 32.220 172,560 204,780 37,310 167,470 $54,170 Whispering Winds Corp. uses a periodic inventory system. The inventories at January 1, 2021, and December 31, 2022, are correct. However, the ending inventory at December 31, 2021. Is overstated by $7.420. Prepare correct Income statement data for the 2 years 2021 2022 $ Sales Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale 2021 2022 Sales $ Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit 5 Textbook and Media What is the cumulative effect of the inventory error on total gross profit for the 2 years? The cumulative effect on total gross profit for the two years is $ e Textbook and Media