Vanhe Company reported these income statement data for a 2-year period. Sales revenue Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit (a) Sales revenue Cost of goods sold 2024 Beginning inventory $200,410 Cost of goods purchased 32,750 162,580 195,330 38,660 156,670 $43,740 2025 $264,100 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 $7,930. 38,660 188,700 Prepare correct income statement data for the 2 years. 227,360 59,530 167,830 $96,270 2024 $ 2025

Vannoe 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 $7.930. (a) Prepare correct income statement data for the 2 years