Refer to the table. Net purchases are: Sales revenue $750,000 Interest revenue 18,000 Freight in    44,000 Beginning inventory 75,000 Purchases discounts 20,000 Sales returns and allowances 44,000 Operating expenses  99,000 Interest expense 15,000 Ending inventory 72,000 Purchases  415,000 Sales discounts 25,000 William Browning, Withdrawals   61,000 Purchase returns and allowances 36,000 Which one is right answer? a.$395,000 b.$359,000 c.$415,000 d.$439,000

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A:

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Q: question

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.