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48) Based on the preceding information, which of the following would be the correct account balances for 20X7 if Gotham City used the consumption method
48) Based on the preceding information, which of the following would be the correct account balances for 20X7 if Gotham City used the consumption method of accounting for inventories?
| Expenditures | Inventory of Supplies | ||||
A) | $ | 17,000 |
| $ | 8,000 |
|
B) | $ | 25,000 |
| $ | 8,000 |
|
C) | $ | 25,000 |
| $ | 0 |
|
D) | $ | 17,000 |
| $ | 0 |
|
A) Option A
B) Option B
C) Option C
D) Option D
Answer: A
Please explain using clear math steps
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