Question
ABC reported Cost of Goods Sold for the year of $757,000. During the year, ABC purchased $826,000 worth of inventory. At the end of the
ABC reported Cost of Goods Sold for the year of $757,000. During the year, ABC purchased $826,000 worth of inventory. At the end of the year, total inventory was $318,000. Assuming no shrinkage during the year, what would the inventory have been at the beginning of the year?
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Accounting Information Systems
Authors: George H. Bodnar, William S. Hopwood
8th Edition
0130861774, 9780130861771
