1. Using the following information:

The bank statement balance is $3,694.

The cash account balance is $3,857.

Outstanding checks amounted to $796.

Deposits in transit are $883.

The bank service charge is $67.

A check for $71 for supplies was recorded as $62 in the ledger.

Prepare a bank reconciliation for Miller Co. for August 31.

Miller Co. Bank Reconciliation August 31

Cash balance according to bank statement		$fill in the blank 1
Adjustments:
Bank service chargeDeposits in transit not recorded by bankError in recording	$- Select -
Bank service chargeError in recordingOutstanding checks	- Select -
Total adjustments		fill in the blank 6
Adjusted balance		$fill in the blank 7
Cash balance according to company's records		$fill in the blank 8
Adjustments:
Bank service chargeDeposits in transit not recorded by bankOutstanding checks	$- Select -
Deposits in transit not recorded by bankError in recordingOutstanding checks	- Select -
Total adjustments		fill in the blank 13
Adjusted balance		$fill in the blank 14

2. Question Content Area

Based upon the following data, estimate the cost of ending inventory using the gross profit method.

Sales	$859,000
Estimated gross profit rate	43%
Beginning inventory	$61,800
Purchases (net)	648,200
Merchandise available for sale	$710,000

$fill in the blank 1