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Question 4 15 pts Part 1 - Inventory - 5 marks Parker Inc started its business in the month of March. The bookkeeper received a
Question 4 15 pts Part 1 - Inventory - 5 marks Parker Inc started its business in the month of March. The bookkeeper received a report from a company hired to do the inventory count that the total inventory was $8,656.20. There were a total of 280 units on hand. However, according to the bookkeeper's records, the inventory at the end of the month was $9,105. The bookkeeper has rechecked the company's records several times and still comes up with the same amount. The company had no inventory at the beginning of the month and 280 units on hand per a physical inventory count at the end of the month. The company uses the periodic method. The following purchases were made for the month: Date Units Unit Cost 3-Mar 160 30.00 200 14-Mar 17-Mar 31.50 28.50 260 21-Mar 200 33.00 24-Mar 180 32.25 Required: Explanation to the bookkeeper how this difference could have occurred. Provide numerical support (Hint: use different cost formulas to calculate the ending inventory)
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