What is the ending inventory for 2021? Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold 2021 $700,000 875,000 675,000 2022 $200,000 388,500 75,000 313,500

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 16PA: Use the following information relating to Clover Company to calculate the inventory turnover ratio,...
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What is the ending inventory for 2021?

What is the ending inventory for 2021?
Beginning inventory
Purchases
Goods available for sale
Ending inventory
Cost of goods sold
2021
$700,000
875,000
675,000
2022
$200,000
388,500
75,000
313,500
Transcribed Image Text:What is the ending inventory for 2021? Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold 2021 $700,000 875,000 675,000 2022 $200,000 388,500 75,000 313,500
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