Barnett Manufacturing uses the periodic method to account for its inventory of raw materials. A physical count was completed on the afternoon of December 31, 20Y4. Determine whether the following transactions create any 20Y4 inventory related errors in the financial statement elements below. Indicate the dollar value of any error and whether the account is overstated (O), understated (U), or if the transaction has no effect on the account listed (NE). How will EACH of the following accounts--Net purchases, A/P, End Inventory, A/R, Sales Revenue--be affected by the following situations:

1. Not included in the physical inventory count is $13,420 of merchandise purchased on December 15. This merchandise was shipped f.o.b shipping point by the supplier on December 29 and it arrived in January. The invoice arrived and was recorded on December 31.

2. Included in the physical inventory count is merchandise that was sold on December 30, f.o.b destination. This merchandise was shipped after it was counted. The invoice was prepared and recorded as a sale on account for $12,800 on December 31. The merchandise cost $7,350 and was received by the buyer on January 3.

3. Included in the physical inventory count is merchandise that was sold f.o.b. shipping point. The merchandise was shipped on December 31 after it was counted. The invoice was prepared and recorded as a sale for $18,900 on December 31. The cost of the merchandise was $10,520 and was it received by the customer on January 5.

4. Included in the physical inventory count was merchandise received on December 31. The merchandise was purchased for $15,630 and was shipped f.o.b. destination by the supplier. The invoice, which has not yet arrived, has not yet been recorded.

5. $10,438 of inventory was included in the physical inventory count. The merchandise was being held on consignment for another company (Barnett was the consignee).