Northwest Fur Company started the year with $91,000 of inventory on hand. During the year, $450,000 in inventory was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $8,000. Inventory with an invoice amount of $4,200 was returned for credit. Cost of goods sold for the year was $376,000. What is ending inventory? 3 012126 Multiple Choice $164,342 $74,000 $160,337 $168,800

Northwest Fur Company started the year with $91,000 of inventory on hand. During the year, $450,000 in inventory was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $8,000. Inventory with an invoice amount of $4,200 was returned for credit. Cost of goods sold for the year was $376,000. What is ending inventory? 3 012126 Multiple Choice $164,342 $74,000 $160,337 $168,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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