What is the ending inventory ? Beginning inventory was $4,000,purchases totaled $31,000, and saleswere $20,000. What is the endinginventory?A) $2,000 B) $4,000 C) $15,000 D)$8,000

Provided Data:Beginning Inventory = $4,000Purchases = $31,000Sales = $20,000Ending Inventory = ?Step…

Answered: Beginning inventory was $4,000,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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16:52 itc.birzeit.edu XYZ Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost Beginning 100 1/1 entory $5 $ 500 20/2 Purchase 400 $6 2,400 25/7 Purchase 200 $7 1,400 10/10 Purchase 300 $9 2,700 1,000 $7,000
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Beginning inventory was $4,000, purchases totaled $31,000, and sales were $20,000. What is the ending inventory? A) $2,000 B) $4,000 C) $15,000 D) $8,000