Don't use ai given answer accounting questions Tech Solutions maintains a perpetual inventory system. Its beginninginventory is $65,000, goods purchased during the period cost $235,000, andthe cost of goods sold for the period is $258,000. What is the amount of theending inventory?A. $42,000B. $78,000C. $45,000D. $32,000

Step 1: Definition of Ending InventoryEnding Inventory refers to the value of unsold goods remaining…

Answered: Tech Solutions maintains a perpetual…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 7MCQ

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Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of goods sold on October 29, and (c) the inventory on October 31.
Kulsrud Company would like to estimate the current inventory level. Using the gross profit method and the following information, estimate the current inventory level for Kulsrud Company. Goods available for sale 100,000 Net sales 150,000 Normal gross profit as a percent of sales 40%
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Tech Solutions maintains a perpetual inventory system. Its beginning inventory is $65,000, goods purchased during the period cost $235,000, and the cost of goods sold for the period is $258,000. What is the amount of the ending inventory? A. $42,000 B. $78,000 C. $45,000 D. $32,000