D. dollar earnings per share Questions-6-8. 8 are to be answered on th e basis of the information DIRECTIONS: Questions 6 through given below wholesale During the course of an examinations of the financial statements of a establishment, the following facts were revealed for the year ended December 3, 2011 I. A Ithough merchandise: inventory costing $3,000 was on hand and.was-included in the inventory count on December 31, 2011, title had passed and it was billed to the customer on December 31, 2011 at a sale price of $4,500 Merchandise had been billed to the customer on December 31, 2011 in the amount Il. of $5,200 b not included in the invento passed on January 15, 2012 ut had not been shipped to him. This merchandise which cost $3,500, was ry at the end of the year. The goods were shipped and title Il. Merchandise e costing $6,000 was recorded as a purchase on December 31,2011 but was Not included in the inventory at that date. the books as of December 31,2011, and included in inventory as of IV. Merchandise co sting $5,000 was received on January 3, 2012, but was recorded on December 31,2011. The goods were shipped on December 30, 2011 by the vendor F.O.B. shipping point. V. An examination of receiving records indicated that merchandise costing $7,000 was received on December 31, 2011. It was included in inventory as of that date but not recorded as a purchase. 6. Adjustments to correct the inventory figure will reflect a net adjustment so as to A. reduce it by $6,500 C. reduce it by $8,000 B, increase it by $6,500 D. increase it by $8,000 7. Adjustments to correct the sales figure will result in a net adjustment to sales of a (n) A. increase by $5.200 C. increase by $6,300 B. decrease by$5,200 D.decrease by$6,300 The net adjustment to purchases for the period ending December 31, 2011 will result in a(n) 8. A. increase of $4,000 C. increase of $7,000 B. decrease of $7,000 D. decrease of $4,000