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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Question
The ending inventory is?

Transcribed Image Text: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
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