Exercise 6-17 Indigo Corporation reported these income statement data for a 2-year period 2017 2016 Sales revenue Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit 5248,200 38,450 198,850 237,300 54,490 182,810 $65,390 $222,970 29,300 166,240 195,540 38,450 157,090 $65,880 Indigo Corporation uses a periodic inventory system. The inventories at January 1, 2016, and December 31, 2017, are correct. However, the ending inventory at December 31, 2016, is overstated by 57,460