Problem 9-15 Integrating problem; Chapters 8 and 9, inventory errors LLO9-71 Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31 2016, its fiscal-year end, based on a physical count, was determined to be $345,000. Capwell's unadjusted trial balance also showed the following account balances: Purchases, $810,000; Accounts payable; $305,000; Accounts receivable, $320,000; Sales revenue, $990,000 The internal audit department discovered the following items 1. Goods valued at $51,000 held on consignment from Dix Company were included in the physical count but not recorded as a purchase. 2. Purchases from Xavier Corporation were incorrectly recorded at $81,000 instead of the correct amount of $18,000. The correct amount was included in the ending inventory. 3. Goods that cost $44,000 were shipped from a vendor on December 2 2016, terms f.o.b. destination The merchandise arrived on January 3, 2017. The purchase and related accounts payable were recorded in 2016 4. One inventory item was incorrectly included in ending inventory a 290 units, instead of the correct amount of 1,950 units. This item cost $30 per unit 5. The 2015 balance sheet reported inventory of $542,000. The internal auditors discovered that a mathematical error caused this inventory to be understated by $81,000. This amount is considered to be material 6. Goods shipped to a customer fo.b. destination on December 25, 2016, were received by the customer on January 4, 2017. The sales price was $59,000 and the merchandise cost $31,500. The sale and corresponding accounts receivable were recorded in 2016 7. Goods shipped from a vendor f.o.b. shipping point on December 27, 2016, were received on January 3 2017. The merchandise cost $37,000. The purchase was not recorded until 2017 Required: 1. Determine the correct amounts for 2016 ending inventory, purchases, accounts payable, sales revenue, and accounts receivable. Ending inventory Purchases Accounts payable Accounts receivable Sales revenue