Accounting Problem about Ending Inventory, Purchases, Accounts Payable, act.

May 5th, 2015
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This is an accounting problem has three required parts: 1.Determine the correct amounts for 2013 ending inventory, purchases, accounts payable, sales revenue, and accounts receivable. 2. Calculate cost of goods sold for 2013. 3. What was the effect of the error in ending inventory on 2012 before-tax income? You should fill the blanks and also show the calculating processing for me.

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Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31, 2013, its fiscal-year end, based on a physical count, was determined to be $344,000. Capwell's unadjusted trial balance also showed the following account balances: Purchases, $800,000; Accounts payable; $300,000; Accounts receivable, $315,000; Sales revenue, $980,000.The internal audit department discovered the following items:1.Goods valued at $50,000 held on consignment from Dix Company were included in the physical count but not recorded as a purchase.2.Purchases from Xavier Corp

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