Silverlight Company had a beginning inventory of $20,000. During the year, the company recorded inventory purchases of $58,000 and a cost of goods sold of $54,000. The ending inventory is: A. $28,000 B. $27,000 C. $24,000 D. $26,000

Silverlight Company had a beginning inventory of $20,000. During the year, the company recorded inventory purchases of $58,000 and a cost of goods sold of $54,000. The ending inventory is: A. $28,000 B. $27,000 C. $24,000 D. $26,000

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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