Question
Ace Electronics had cost of goods sold of $10,000. If purchases were $13,000 and ending inventory was $5,500, Ace's beginning inventory must have been: A)
Ace Electronics had cost of goods sold of $10,000. If purchases were $13,000 and ending inventory was $5,500, Ace's beginning inventory must have been:
A) $2,500.
B) $8,500.
C) $15,500.
D) $7,500.
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
