Vaughn Manufacturing reported these income statement data for a 2-year period. 2021 $190,450 Sales revenue 2022 $246,700 43,240 211,980 255,220 Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit 35,100 173,640 208,740 43,240 165,500 $24,950 56,720 198,500 $48,200 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. 2021 2022 Sales Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit LINK TO TEXT What is the cumulative effect of the inventory error on total gross profit for the 2 years? The cumulative effect on total gross profit for the two years is $