Please provide problem with accounting The inventory balance for Highland Manufacturing was $150,000 in2022 and $180,000 in 2023.What was the percentage change in inventory?A. 16.7%B. 20%C. -16.7%D. -20%

Step 1: Definition of Percentage ChangePercentage Change: It is a financial metric used to measure…

Answered: The inventory balance for Highland…

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 inventory balance for Highland Manufacturing was $150,000 in 2022 and $180,000 in 2023. What was the percentage change in inventory? A. 16.7% B. 20% C. -16.7% D. -20%