Bridgeport corp. reported these income statement data for a 2-year period. 2022 2021 sales revenue $263,000 $225,690 beginning inventory 42,390 30,650 cost of goods purchased 206,680 177,650 cost of goods available for sale 249,070 208,300 less: ending inventory 60,160 42,390 cost of goods sold 188,910 165,910 gross profit $74,090 $59,780 bridgeport corp. 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 $7,380.