Acompany uses the percent of sales method to determine its bad debts expense. at the end of the current year, the company's unadjusted trial balance reported the following selected amounts: accounts receivable $ 352,000 debit allowance for uncollectible accounts 630 debit net sales 797,000 credit all sales are made on credit. based on past experience, the company estimates that 0.5% of net credit sales are uncollectible. what amount should be debited to bad debts expense when the year-end adjusting entry is prepared?

Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.