View Policies Current Attempt in Progress You are given the following information for Carla Vista Company for the month ended November 30, 2021: Date Unit Price $51 Nov. 1 9 45 15 Description Beginning inventory Purchase Sale Purchase Sale Purchase Units 65 110 (120) 150 (150) 44 22 43 29 30 42 Carla Vista 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 12118 Ending Inventory 3890 Question 2 of 6 -12 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 Purchases 6540 Accounts Payable 6540 (To record purchase on account.) Nov. 29 Accounts Receivable 9000 Sales 9000 (To record sales on account.) Nov. 29 Cost of Goods Sold Merchandise inventory (To record cost of goods sold.) e Textbook and Media Listo! Accounts Calculate gross profit for November. Gross profit e Textbook and Media List of Accounts Assume that at the end of November the company counted its inventory. There are 97 units on hand. What journa should the company make to record the shortage? (Credit account titles are automatically indented when the amount 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 (To record cost of goods sold.) 2 Question 2 of 6 III e Textbook and Media List of Accounts 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 th The on the income statement would be by $ eTextbook and Media List of Accounts Last saved 1 hour ago Saved work will be auto-Subited on the due date Attempts: 0 of 3 used Submit Aruwer