Chapter 9, Problem 83CP

Can you explain the correct approach to solve this general accounting question?

General accounting question

I need assistance with this financial accounting question using appropriate principles.

Please explain the solution to this general accounting problem using the correct accounting principles.

general account

Need your help with Question

TOSHIBA ended the year with an inventory of $842,000. During the year, the firm purchased $5,467,000 of new inventory and the cost of goods sold reported on the income statement was $5,215,000. What was TOSHIBA's inventory at the beginning of the year?

Can you demonstrate the proper approach for solving this financial accounting question with valid techniques?

Calculate the depreciation expense