On January 1, 2020, the general ledger of Global Corporation included supplies inventory of $1,000. During 2020, supplies purchases amounted to $5,000. A physical count of inventory on hand at December 31, 2020 determined that the supplies inventory was $1,200. How much is the 2020 supplies expense? Group of answer choices A)$6,000 B)$5,200 c)$4,800 d)$1,000

On January 1, 2020, the general ledger of Global Corporation included supplies inventory of $1,000. During 2020, supplies purchases amounted to $5,000. A physical count of inventory on hand at December 31, 2020 determined that the supplies inventory was $1,200. How much is the 2020 supplies expense? Group of answer choices A)$6,000 B)$5,200 c)$4,800 d)$1,000

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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