Calculations related to inventory transactions Calculations related to receivables transactions Retained earnings

Purchases and sales transactions during the year were as follows, the company uses the perpetual inventory system, and it applies the FIFO cost flow assumption to account for its inventory: Transaction date purchases date sales Unit Unit units 1/1/18 30000 3/4/1815000 6/5/18 7000 7/6/18 3500 21/8/18 8000 19/11/18 5000 units 4/1/18 30000 9/4/18 15000 30.00 30.08 30.40 23/5/2018 3000 30.50 30.8023/11/18 10600 30.90 35.00 36.00 37.00 39.00 40.00 4/6/18 1400 *all sales and purchases were in cash If you also knew that accounts receivable at the beginning of the year had a balance of S950,000, allowance for doubtful accounts had a credit balance of $15,000. Management estimates that 9% of receivables will be uncollectable. During the year, management wrote off a $75,000 balance owed by the corporation