c. Hi-Lo unintentionally omitted the record of the issuance of preferred stock and repurchase of treasury stock transaction. On March 1, 2020, the company issued 10,000 shares of 5%, $15 par value preferred stock at a price of $60 per share. In addition, Hi-Lo repurchased its common stock 25,000 shares on June 12 at a price of 40 per share and subsequently sold 15,000 shares of the treasury stocks to the market at a price of $50 per share on November 15, 2020. The total dividend declared was 35,000 (already adjusted on the financial statement). d. Below is the information on the beginning inventory, purchases and sales for the company for the year. Currently, Hi-Lo uses the perpetual FIFO method to value its inventory and cost of goods sold. However, Hi-Lo decided to change the costing method to weighted average. Adjust the inventory and cost of goods sold to reflect the change. Date Description # of Units Unit Cost or Selling Price $47 63 51 1-Jan Beginning inventory 2-Mar Sale 10-May Purchase 17-Jul Sale 28-Sep Purchase 10-Oct Sale 29-Nov Purchase 6,000 2,600 11,000 9,600 5,000 4,000 4,000 78 54 78 58