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13. (80). At 01/01/2010, the beginning inventory of Claxton Furniture was $180,000. During the year 2010 inventory purchases of $280,000 were made. If the
13. (80). At 01/01/2010, the beginning inventory of Claxton Furniture was $180,000. During the year 2010 inventory purchases of $280,000 were made. If the income statement for the year 2010 reported Cost of Goods Sold of $240,000, the ending inventory at 12/31/2010 was: OA. $140,000. OB. Still $180,000. C. $220,000. OD. Cannot be determined without knowing Net Sales.
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