Inventory Errors : Fill in the following chart [9 Marks] Income Statement With Correct Ending Inventory Year 1 Year 2 Sales $240,000 $265,000 Cost of Goods Sold Beginning Inventory $75,000 Add: Net Purchases 210,000 230.000 Cost of Goods Available for Sale Less: Ending Inventory 100,000 120,000 Cost of Goods Sold Gross Profit Operating Expenses 30,000 33,000 Net Income Inventory Errors : Fill in the following chart [9 Marks] Income Statement With Incorrect Ending Inventory Year 1 Year 2 Sales $240,000 $265,000 Cost of Goods Sold Beginning Inventory $75,000 Add: Net Purchases 210,000 230,000 Cost of Goods Available for Sale Less: Ending Inventory 90,000 120,000 Cost of Goods Sold Gross Profit Operating Expenses 30,000 33,000 Net Income