The following data relate to Tech Edge in 2023. What is the ending inventory? Purchases: $600,000 Beginning Inventory: $90,000 Purchase Returns: $15,000 Sales: $900,000 Cost of Goods Sold: $525,000 a) $150,000 b) $160,000 c) $200,000 d) $250,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 16PB: Use the following information relating to Medinas Company to calculate the inventory turnover ratio,...
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The following data relate to Tech Edge in 2023.... Please provide answer the accounting question

The following data relate to Tech Edge in 2023. What is the ending
inventory? Purchases: $600,000 Beginning Inventory: $90,000
Purchase Returns: $15,000 Sales: $900,000 Cost of Goods Sold:
$525,000
a) $150,000
b) $160,000
c) $200,000
d) $250,000
Transcribed Image Text:The following data relate to Tech Edge in 2023. What is the ending inventory? Purchases: $600,000 Beginning Inventory: $90,000 Purchase Returns: $15,000 Sales: $900,000 Cost of Goods Sold: $525,000 a) $150,000 b) $160,000 c) $200,000 d) $250,000
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