Question: Ivanhoe Company reported these income statement data for a 2-year period. Ivanhoe Company uses a periodic inventory system. The inventories at January 1, 2024, and

Ivanhoe Company reported these income statement data for a 2-year period.

Ivanhoe Company reported these income statement data for a 2-year period. Ivanhoe Company uses a periodic inventory system. The inventories at January 1, 2024, and December 31, 2025, are correct. However, the ending inventory at December 31,2024 , is overstated by $8,700. (a) Prepare correct income statement data for the 2 years. eTextbook and Media Attempts: 0 of 5 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above

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