Accounting. Answer. . A firm's beginning inventory is $34,000, goods purchased during theperiod cost $119,000, and the cost of goods sold for the period is$139,000. What is the amount of its ending inventory?a. $44,000b. $20,000c. $24,000d. $14,000

Step 1: Given informationBeginning inventory = $34,000Purchases during the period = $119,000Cost of…

Answered: A firm's beginning inventory is…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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A firm's beginning inventory is $34,000, goods purchased during the period cost $119,000, and the cost of goods sold for the period is $139,000. What is the amount of its ending inventory? a. $44,000 b. $20,000 c. $24,000 d. $14,000