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If $12,000 was the beginning inventory, purchases were $20,000, and sales were $15,000, how much was the ending inventory at the end of the last accounting period? a. $17,000 b. $12,000 c. $0 d. $7,000

If $12,000 was the beginning inventory, purchases were $20,000, and sales were $15,000, how much was the ending inventory at the end of the last accounting period? a. $17,000 b. $12,000 c. $0 d. $7,000

Managerial Accounting: The Cornerstone of Business Decision-Making
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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Please need answer the general accounting question

If $12,000 was the beginning inventory, purchases were $20,000, and sales were $15,000, how much was the ending inventory at the end of the last accounting period? a. $17,000 b. $12,000 c. $0 d. $7,000
Transcribed Image Text:If $12,000 was the beginning inventory, purchases were $20,000, and sales were $15,000, how much was the ending inventory at the end of the last accounting period? a. $17,000 b. $12,000 c. $0 d. $7,000
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