You are given the following information for Wildhorse Company for the month ended November 30, 2021: Units 64 Unit Price $49 45 Date Description Nov. 1 Beginning inventory 9 Purchase 15 Sale 22 Purchase 29 Sale 30 Purchase 100 (125) 155 (160) 42 46 41 Wildhorse Company uses a perpetual inventory system. All sales and purchases are on account. Your answer is correct. Calculate the cost of goods sold and the ending inventory using FIFO. Cost of goods sold $ 12718 Ending inventory $ 3314 e Textbook and Media Assistance Used List of Accounts Your answer is partially correct. 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 entero for the amounts.) Date Account Titles and Explanation Debit Credit Nov. 22 Merchandise Inventory 6510 Accounts Payable 6510 (To record purchase on account.) Nov. 29 Accounts Receivable 9600 Sales 9600 (To record sales on account.) Nov. 29 Cost of Goods Sold 12718 Merchandise Inventory 12718 (To record cost of goods sold.) X Your answer is incorrect. Calculate gross profit for November. Gross profit $ e Textbook and Media Assistance Used List of Accounts Your answer is partially correct. Assume that at the end of November, the company counted its inventory. There are 78 units on hand. What journal entry, if any, should the company make to record the shortage? (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.) Account Titles and Explanation Debit Credit Cost of Goods Sold 3273 Merchandise Inventory 3273 (To record cost of goods sold.) e Textbook and Media Assistance Used List of Accounts X Your answer is incorrect. 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 on the income statement would be by $ e Textbook and Media List of Accounts