36. Inventory records for the company revealed the following: Number Unit Date Transaction of Units Cost Apr. 1 Beginning inventory 75 $299,00 Apr. 4 Purchase 550 $345.50 The company sold 575 units of inventory during the month. Ending inventory assuming LIFO would be: $ 37. Inventory records for the company revealed the following: NumberUnit Date Transaction of UnitsCost Mar. 1 Beginning inventory 125 $65.00 Mar. 6 Purchase 250 $67.50 Mar. 16 Purchase 200 $67.70 Mar. 23 Purchase 225 $69.00 The company sold 710 units of inventory during the month. Ending inventory assuming FIFO would be: $ 38. Inventory records for the company revealed the following: NumberUnit Date Transaction of UnitsCost Mar. 1 Beginning inventory 100 $45.00 Mar. 3 Purchase 600 $49.50 Mar. 23 Purchase 300 $50.00 The company sold 940 units of inventory during the month. Ending inventory assuming Weighted Average would be: $ Use the following to answer questions 39-40 MATCH... For each of the following independent situations, fill in the blanks to indicate the effect of the error on each of the various financial statement items. Assume that each of the companies uses a periodic inventory system. Indicate: (A) an understatement (B) an overstatement or (C) no effect, correct Balance Sheet Income Statement Ending Retained Cost of Error Net Income Inventory Earnings Goods Sold 39. Understated El in year 1, affect on items in year 1. a. 40. Understated El in year 1, affect on items in year 2. a. b. c. b. e. d. d