Bridgeport Corp. reported these income statement data for a 2-year period. 2022 2021 Sales revenue $263,000 $225,690 Beginning inventory 42,390 30,650 Cost of goods purchased 206,680 177,650 Cost of goods available for sale 249,070 208,300 Less: Ending inventory 60,160 42,390 Cost of goods sold 188,910 165,910 Gross profit $74,090 $59,780 Bridgeport 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 $7,380. 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 Less: Ending inventory Cost of goods sold Gross profit 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 $