Ezy Mart Pte Ltd is an ecommerce company that operates an online supermarket in Singapore. Following is the unadjusted trial balance of Ezy Mart Pte Ltd as at 30 September 2018.


                                                                                                            Debit $                   Credit $
Share capital                                                                                                                   500,000
Retained earnings, 30 Sep 2017                                                                                   137,500
Logistic equipment at cost                                                            775,000
Motor vehicles at cost                                                                   500,000
Accumulated depreciation 
Logistic equipment                                                                                                         250,000 
Motor vehicles                                                                                                                125,000
Cost of goods sold                                                                        2,818,500
Sales                                                                                                                              4,626,500
General expenses                                                                           104,000
Wages and salaries expenses                                                       897,000
Rental expense                                                                                50,000
Allowance for doubtful debts                                                                                          6,000
Accounts receivable                                                                       371,000
 Accounts payable                                                                                                          341,500
 Cash                                                                                                 61,500
 Inventory                                                                                        409,500                                  
                                                                                                      5,986,500                5,986,500




The following are additional information, none of which has been taken into consideration in arriving at the figures shown in the trial balance above.
(i) Wages and salaries due at 30 September 2018 but still remained unpaid, $7,250.


(ii) Rental expenses paid in advance at 30 September 2018, $9,000. This amount has been mistakenly included in the rental expense shown in the unadjusted trial balance above.


(iii) The company estimated that as at 30 September 2018, $11,130 of accounts receivable will be uncollectible.


(iv) No depreciation has been charged for the year ended 30 September 2018. The company computes depreciation for non-current assets held at 30 September 2018 as follows: 
Logistic equipment - straight line over 4 years. 
Motor vehicles - 40% per annum using the double declining balance method.
All the non-current assets are assumed to have no residual value.


(a) Analyse the information provided and prepare the necessary adjusting journal entries as at 30 September 2018. No narrations required.


(b) Compute the following after incorporating the adjustments to the trial balance: (i) Gross profit. (ii) Net profit.
(iii) Total assets.
(iv) Total liabilities.
(v) Total equity.
It is not necessary to present your answers in the financial statement format. However, it is important to show all your workings in a clear and succinct manner.


(c) Inventory is recorded under the FIFO cost flow assumption. Due to the general decline of prices of goods during this period, if the weighted average cost system is adopted, the inventory at 30 September 2018 would be $421,800 and not $409,500. Compute and show how a change to the weighted average cost method for inventory will affect the results computed in (b). Round to the nearest number.