A company reported the following information for Its most recent year of operation: purchases, $101,000; beginning inventory, $20,500; and cost of goods sold, $111,000. How much was the company's ending inventory? a. $10,500 b. $15,500 c. $20,500 d. $30,500

A company reported the following information for Its most recent year of operation: purchases, $101,000; beginning inventory, $20,500; and cost of goods sold, $111,000. How much was the company's ending inventory? a. $10,500 b. $15,500 c. $20,500 d. $30,500

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 2RE: On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the...

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TUtor of general account accept it.

A company reported the following information for Its most recent year of
operation: purchases, $101,000; beginning inventory, $20,500; and cost
of goods sold, $111,000. How much was the company's ending
inventory?
a. $10,500
b. $15,500
c. $20,500
d. $30,500

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