Do fast answer of this accounting questions Mountain Trading Company had the following amounts related to its business:Beginning Inventory: $15,000 Purchases: $55,000 Net Sales: $80,000 Gross Profit:$25,000The amount of the ending inventory is:a. $70,000b. $45,000c. $15,000d. $20,000

Step 1: Definition of Ending InventoryEnding inventory refers to the value of goods that remain…

Answered: Mountain Trading Company had the…

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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Mountain Trading Company had the following amounts related to its business: Beginning Inventory: $15,000 Purchases: $55,000 Net Sales: $80,000 Gross Profit: $25,000 The amount of the ending inventory is: a. $70,000 b. $45,000 c. $15,000 d. $20,000