A firm had a beginning inventory of $7,500, purchases totaled $42,000, and sales were $36,000. What is the ending inventory? A) $13,500 B) $28,500 C) $49,500 D) $71,500
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- Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?What is the ending inventory?A company's beginning inventory is $10,000, purchases during the period are $25,000, and the ending inventory is $8,000. What is the cost of goods sold (COGS)?
- Obama Enterprises had a beginning inventory of $32,000. During the year, the company recorded inventory purchases of $67,000 and a cost of goods sold of $63,000. What is the ending inventory? a. $28,000 b. $27,000 c. $24,000 d. $36,000If $8,400 was the beginning inventory, purchases were $14,000, and sales were $12,600, how much was the ending inventory last accounting period?A company's beginning inventory was valued at $25,000. During the year, it made purchases worth $60,000 and ended with inventory valued at $30,000. What is the Cost of Goods Sold (COGS)? a) $55,000 b) $60,000 c) $65,000
- A firm had a beginning inventory of $7,500, purchases totaled $42,000, and sales were $36,000. What is the ending inventory? A) $13,500 B) $28,500 C) $49,500 D) $71,500 solve this Accounting problemA company’s beginning inventory is $150,000, its net purchases are $230,000, and its netsales total $440,000. Its normal gross profit percentage is 30% of sales. Using the grossprofit method, how much is ending inventory?a. $132,000b. $72,000c. $210,000d. $228,000Question: For the year, your company's sales are $425,000, the gross profit is $340,000, and the ending inventory is $92,000. If net purchases are $125,000, the beginning inventory must have been_____.