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Bad debt Expense owing accounts is still open after the books are closed. your answer sheet. or Allowance for doubtful accounts SHOW YOUR WORK TO RECEIVE PARTIAL CREDIT FOR ALL PROBLEMS 62. (8 points) Lan Enterprises uses a periodic inventory system for buckets itsells. It had a beginning inventory on April 1 of 20 units at a cost of $8.00 per unit. During April, the following purchases and sales were made Purchases April 7 units at $8.50 13 120 units at $8.75 23 units at $9.00 29 units at $8.80 60 90 50 320 April 9 15 24 30 Sales 40 90 80 60 units at $20 units at $20 units at $20 units at $20 270 Instructions: Compute the April 30 ending inventory (a) (4 points) average cost (b) (4 points) LIFO point bonus) Compute the amount of cost of goods sold under average cost