Comfortable Feet manufactures slippers. In 2020, the company hired a new bookkeeper who did not have appropriate training. The bookkeeper charged to "production expense" all of the following costs for manufacturing 66,400 pairs of slippers. (Click the icon to view the data.) The company had zero work in process at the end of both 2019 and 2020. Finished goods amounted to 4,000 pairs at $3.30/pair at the end of 2019. There were 2,500 pairs in finished goods inventory at the end of 2020. Required Data - X okkeeper's errors, and properly record the above expenditures edits. Explanations are not required.) Raw materials 28,000 ebit Factory labour 98,000 Variable manufacturing overhead 7,000 Fixed manufacturing overhead 10,000 Factory depreciation 23,000 Finished goods storage 3,500 FIFA.. Interest for carrying finished goods 2,500 $ 172,000 Total Credit Time Remaining: 01:22:31 Next Requirement a. Provide the adjusting journal entry or entries to correct the bookkeeper's errors, and properly record the above expenditures recorded in the "production expense" account. (Record debits first, and then credits. Explanations are not required.) Date 2020 Accounts Debit Credit Requirement b. Assume the company uses a periodic inventory system and the FIFO cost flow assumption for finished goods. Compute the cost of goods sold and the ending value of finished goods inventory for the year 2020. Inventory Layer Opening inventory Units produced in 2020 Cost of goods available for sale Ending inventory-FIFO Cost of goods sold Units x Unit cost = Total cost x Requirement c. Now, assume the company uses the weighted-average cost flow assumption. Compute the cost of goods sold and the ending value of finished goods. Begin by computing the weighted-average cost (WAC) per unit for this requirement. (Round the weighted-average cost per unit to five decimal places, X.XXXXX.) WAC per unit Next, compute ending inventory under the WAC method, assuming the periodic inventory system. (Round any cost per unit values to five decimal places, XXXXXXXX. Round the ending inventory to the nearest whole dollar.) = Ending inventory - WAC method = WAC per unit = Next, compute ending inventory under the WAC method, assuming the periodic inventory system. (Round any cost per unit values to five decimal places, X.XXXXXXXX. Round the ending inventory to the nearest whole dollar.) Ending inventory - WAC method Now, compute the cost of goods sold for the period. = Cost of goods sold - WAC method