Question: View Policies Show Attempt History Current Attempt in Progress Crane Company reported these income statement data for a 2 -year period. Crane Company uses a

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

uses a periodic inventory system. The inventories at January 1, 2024, and

View Policies Show Attempt History Current Attempt in Progress Crane Company reported these income statement data for a 2 -year period. Crane 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 38.580 . (a) Yoir anwiet is corect Pretsare correct incorve itatement data for the 2 years. Prepare correct income statement data for the 2 years. What is the cumulative effect of theinentiory error on total gross profit for the 2 vears? (Do not leave any answer field blank Enter O for omounts: The curmulative effect on total gross profit for the two vears is $

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