YUTE FU Current Attempt in Progress A company uses the periodic inventory method and the beginning inventory is overstated by $9,000 because the ending inventory in the previous period was overstated by $9,000. The amounts reflected in the current end of the period balance sheet are Assets Owner's Equity Overstated Correct Correct Correct Overstated Overstated Understated Understated Current Attempt in Progress A. Macarty Company's records indicate the following information for the year: Merchandise $550,000 inventory, 1/1 Purchases 2,250,000 Net sales 3,100,000 On December 31, a physical inventory determined that ending inventory of $600,000 was in the warehouse. A. Macarty's gross profit on sales has remained constant at 30%. A. Macarty suspects some of the inventory may have been taken by some new employees. At December 31, what is the estimated cost of missing inventory? O $180,000 O $600,000 O $42,000 O $30,000 P. Didee has the following inventory information. July 1 Beginning Inventory 20 units at $90 120 units at 5 Purchases $92 14 Sale 90 units 21 Purchases 60 units at $95 30 Sale 58 units Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis? $4,940 O $6,346 O $5,860 $4,744