Question: Maria Company reported these income statement data for a 2-year period. Sales 2022 2021 $305,000 $256,200 48.800 36.600 246,440 211,060 Beginning inventory Cost of goods

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

Maria Company reported these income statement data for a 2-year period. Sales 2022 2021 $305,000 $256,200 48.800 36.600 246,440 211,060 Beginning inventory Cost of goods purchased Cost of goods available for sale 295,240 247,660 Ending inventory Cost of goods sold 61,000 234,240 $70,760 48,800 198.860 $57,340 Gross profit Maria 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 $4.880. Prepare correct income statement data for the 2 years. 2021 2022 e Textbook and Media What is the cumulative effect of the inventory error on total gross profit for the 2 years? (If answer is zero please enter 0, do not leave any field blank.) Total gross profit for the two years $

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