Answered: The inventory balance for Highland…

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%

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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Question

What was the percentage change in inventory of this financial accounting question?

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%

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