Please solve Table 1DateJanuary 1, 2004April 1, 2004September 1, 2004December 31, 2004Level of Inventory$400 million430 million385 million395 million7. Given the information in Table 1, find inventory investment in 2004.

Name: Please solve Table 1DateJanuary 1, 2004April 1, 2004September 1, 2004D
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Description: Please solve Table 1DateJanuary 1, 2004April 1, 2004September 1, 2004December 31, 2004Level of Inventory$400 million430 million385 million395 million7. Given the information in Table 1, find inventory investment in 2004.

Answered: Table 1 Date January 1, 2004 April 1,…

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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Table 1
Date
January 1, 2004
April 1, 2004
September 1, 2004
December 31, 2004
Level of Inventory
$400 million
430 million
385 million
395 million
7. Given the information in Table 1, find inventory investment in 2004.

Expert Solution

Step 1

Inventory investment is the difference between the goods produced and sold during the year

Inventory investment is positive when firms add to their inventories (Purchase or Produce), negative when they reduce them (Sell them)

Inventory investment = Inventory purchased - Inventory Sold

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