Need correct answer general Accounting Brightware Electronics had a beginning inventory of$24,000. During the year, the company recordedinventory purchases of $68,000 and a cost of goods soldof $73,000. The ending inventory is:A. $21,000B. $19,000C. $22,000D. $20,000

Step 1: Define Ending InventoryEnding Inventory represents the value of unsold goods at the end of…

Answered: Brightware Electronics had a beginning…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the year. On its year-end income statement, Pope reported cost of goods sold of 1,025,000. Calculate Popes December 31 ending inventory.
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Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.
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Brightware Electronics had a beginning inventory of $24,000. During the year, the company recorded inventory purchases of $68,000 and a cost of goods sold of $73,000. The ending inventory is: A. $21,000 B. $19,000 C. $22,000 D. $20,000