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

2021 2022

Sales Revenue $212,500 $258,000

Beginning inventory 35,000 45,000

Cost of goods purch. 190,500 219,000

Cost of goods available for sale 225,500 264,000

Less: Ending Inventory 45,000 52,500

Cost of goods sold 180,500 211,500

Gross Profit 32,000 46,500

Pharoah Company 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 5,500.

Prepare correct statement data for the 2 years.