Managerial Accounting Villa Sales Company had the following amounts relatedto its business:Beginning Inventory $12,000PurchasesNet SalesGross Profit$42,000$50,000$15,000The amount of the ending inventory is:a. $54,000b. $77,000c. $19,000d. $35,000

Step 1: Introduction to the Ending InventoryEnding inventory is the value of the inventory asset on…

Answered: Villa Sales Company had the following…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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None

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Villa Sales Company had the following amounts related to its business: Beginning Inventory $12,000 Purchases Net Sales Gross Profit $42,000 $50,000 $15,000 The amount of the ending inventory is: a. $54,000 b. $77,000 c. $19,000 d. $35,000