What is the ending inventory on this financial accounting question? Beginning inventory was $5,500, purchasestotalled $28,000, and sales were $24,500. What isthe ending inventory?A) $4,000B) $6,500C) $9,000D) $10,500

To calculate the ending inventory, we use the formula:Ending Inventory = Beginning Inventory +…

Answered: Beginning inventory was $5,500,…

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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Beginning inventory was $5,500, purchases totalled $28,000, and sales were $24,500. What is the ending inventory? A) $4,000 B) $6,500 C) $9,000 D) $10,500