Question: Please answer Vaughn Manufacturing reported these income statement data for a 2 -year period. Vaughn Manufacturing uses a periodic inventory system. The inventories at January

Please answer

-year period. Vaughn Manufacturing uses a periodic inventory system. The inventories at

Vaughn Manufacturing reported these income statement data for a 2 -year period. Vaughn Manufacturing 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 $7,770. Prepare correct income statement data for the 2 years

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