BrightStar Trading had a beginning inventory of $5,000, purchases during the year totalled $25,000, and sales amounted to $24,000. What is the ending inventory? A) $4,000 B) $6,000 C) $7,000 D) $9,000

BrightStar Trading had a beginning inventory of $5,000, purchases during the year totalled $25,000, and sales amounted to $24,000. What is the ending inventory? A) $4,000 B) $6,000 C) $7,000 D) $9,000

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

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 11RE: Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year,...

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Question

General Accounting

BrightStar Trading had a beginning inventory of
$5,000, purchases during the year totalled $25,000,
and sales amounted to $24,000. What is the ending
inventory?
A) $4,000
B) $6,000
C) $7,000
D) $9,000

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