On 05/11/N, ^ Company purchased merchandise K on credit: Quantity 400kg, unit cost $4/kg. Freight in $160. On 25/11/N, A issued 550kg of merchandised for sales. Opening balance of K : quantity 300kg,$1200, FIFO cost method, accounting period: month. Determine: a. Cost of purchased b. Cost of goods sold c. Cost of merchandise at the end of accounting period Write journal entries which would correct these errors: a. Cash received in advance $500 was debited to A/R account 4 b. Machine bought in cash $900 was omitted from the books entirely c. Material purchased in cash $600 had been recorded in the material as $500, but the cash account was correctly written up