Rocky Retailers Inc. reported the following financial details for its most recent year of operation: Purchases $95,000 Beginning Inventory = $18,000 Cost of Goods Sold (COGS) = $100,000 How much was the company's ending inventory? A) $10,000 B) $13,000 C) $18,000 D) $23,000

Rocky Retailers Inc. reported the following financial details for its most recent year of operation: Purchases $95,000 Beginning Inventory = $18,000 Cost of Goods Sold (COGS) = $100,000 How much was the company's ending inventory? A) $10,000 B) $13,000 C) $18,000 D) $23,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 2RE: On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the...

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Question

How much was the company's ending inventory of this financial accounting question?

Rocky Retailers Inc. reported the following financial details for its most recent
year of operation:
Purchases $95,000
Beginning Inventory = $18,000
Cost of Goods Sold (COGS) = $100,000
How much was the company's ending inventory?
A) $10,000
B) $13,000
C) $18,000
D) $23,000

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