Exercise 6-17 Metock, Inc. reported these income statement data for a 2-year period Sales revenue $264.100 200,410 Beginning inventory 38,660 32,750 Cost of goods purchased 188,700 162,580 Cost of goods available for sale 227,360 195,330 Less: Ending inventory 52,520 38 660. Cost of goods sold 167,830 Gross profit at January 1, 2016, and December 31, 2017, are correct. However, the ending inventory December Metock, Inc. uses a periodic inventory system. The inventories 31, 2016, is overstated by $7,930. Prepare correct income statement data for the 2 years. 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