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Farley Bains, an auditor with Nolls CPAs, is performing a review of Sage Hill inc's Inventory account. Sage Hill inc did not have a good
Farley Bains, an auditor with Nolls CPAs, is performing a review of Sage Hill inc's Inventory account. Sage Hill inc did not have a good year, and top manager under pressure to boost reported income. According to its records, the inventory balance at year-end was $800,470. However, the following information was considered when determining that amount. Prepare a schedule to determine the correct inventory amount. (Show amounts that reduce inventory with a negative sign or parenthesise-45 or parentheses e 145 Support Ending Inventory-as reported 1 Included in the company's count were goods with a cost of $248,330 that the company is holding on consignment. The goods belong to Nader Corporation 2 The physical count did not include goods purchased by Sage Hill Inc with a cost of 543,180 that were shipped FOB shipping point on December 28 and did not arrive at Sac Hill inc's warehouse until January 3 Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 110 $550 12 Purchases 334 2,004 23 Purchases 1,421 30 Inventory 212 203 A sale of 382 units occurred on June 15 for a selling price of $8 and a sale of 53 units on June 27 for $9. Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, s. 5.125) June 1 $ June 12 s June 15$ June 235
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