Windsor, Inc. reported these income statement data for a 2-year period. 2022 2021 Sales revenue $229,900 $224,080 Beginning inventory 38,870 29,140 Cost of goods purchased 193,740 184,640 Cost of goods available for sale 232,610 213,780 Less: Ending inventory 59,250 38,870 Cost of goods sold 173,360 174,910 Gross profit $56,540 $49,170 Windsor, Inc. 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 $7.840