You are given the following information for Oriole Company for the month ended November 30, 2021: Unit Price $49 45 Date Description Nov. 1 Beginning inventory 9 Purchase 15 Sale 22 Purchase 29 Sale 30 Purchase Units 64 100 (125) 155 (160) 49 44 41 Oriole Company uses a perpetual inventory system. All sales and purchases are on account. Calculate the cost of goods sold and the ending inventory using FIFO. Cost of goods sold $ Ending inventory ta Assume the sales price was $66 per unit for the goods sold on November 15, and $60 per unit for the sale on November 29. Prepare journal entries to record the November 22 purchase and the November 29 sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Nov. 22 (To record purchase on account.) Nov. 29 (To record sales on account.) Nov. 29 (To record cost of goods sold.) If the company had not discovered this shortage, what would be overstated or understated on the balance sheet and income statement and by what amount? The on the balance sheet would be by $ , as well as the The on the income statement would be by $ cost of goods sold merchandise inventory accounts receivable accounts payable sales If the company had not discovered this shortage, what would be overstated or understated on the balance sheet and income statement and by what amount? The on the balance sheet would be by $ as well as the overstated understated The on the income statement wou by $ If the company had not discovered this shortage, what would be overstated or understated on the balance sheet and income statement and by what amount? on the balance sheet would be by $ , as well as the account by the same amount. owner's drawing owner's capital on the income statement would be by $