Question: been stuck on this for a while now, any help would be great Karen Company reported these income statement data for a 2-year period. 2022

been stuck on this for a while now, any help would be great  been stuck on this for a while now, any help would
be great Karen Company reported these income statement data for a 2-year
period. 2022 2021 Sales $215,000 $180,600 34,400 25,800 Beginning inventory Cost of

Karen Company reported these income statement data for a 2-year period. 2022 2021 Sales $215,000 $180,600 34,400 25,800 Beginning inventory Cost of goods purchased 173,720 148,780 208,120 174,580 Cost of goods available for sale Ending inventory 43,000 34,400 Cost of goods sold 165,120 140,180 Gross profit $49,880 $40,420 Karen 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 $3,440. Prepare correct income statement data for the 2 years. 2021 2022 Sales 180600 215000 Cost of Goods Sold Beginning Inventory 25800 30960 Cost of Goods Purchased 148780 173720 Cost of Goods Available for Sale 174580 204680 Ending Inventory 30960 43000 i Cost of Goods Sold 136740 161680 Gross Profit 4 $ 40420 49880 X Your answer is incorrect. What is the cumulative effect of the inventory error on total gross profit for the 2 years? (If answer is zero please enter 0, do not leave any field blank.) Total gross profit for the two years $ 30960

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