8.7 Different inventory valuation methods (4) Inventory records for Marlene Company revealed the following: Date Unit Cost March 1 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 1,000 600 800 March 10 $7.20 7.25 7.30 7.35 March 17 March 24 600 Marlene sold 2,300 units of inventory during the month. Required: @ Determine Cost of Goods Available for Sale for the month of March. Determine Cost of Goods Sold assuming the FIFO method is used. Determine Ending Inventory assuming the Weighted Average method is used. 9.2 Percent of sales method and aging method The following account balances are for Hummingbird Company: Accounts Receivable 110,000 Sales 320,000 Allowance for Uncollectible Accounts 300 Required: Prepare the adjusting entry to provide for uncollectible accounts expense if the uncollectible expense is estimated at 1 percent of net sales and by aging the accounts receivable and assuming the needed allowance balance is estimated at $3,300