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For each of the following cases determine the ending balance in the inventory account (Hint Fist, deteresne the toladl cost of Inventory available for sale.
For each of the following cases determine the ending balance in the inventory account (Hint Fist, deteresne the toladl cost of Inventory available for sale. Next, subtract the cost of the inventory sold to arrive at the ending balance) o. Jill's Dress Shop had a beginning balance in its inventory account of $52,000. Duning the atcounting pertod Jits purchased $111,000 of inventory, returned $7,400 of inventory, and obtained $990 of purchases discounts, Jil's incured $1,480 af transportation-in cost and $840 of transportation out cost Salaries of sales personnel amounted to $43,000 Administratie expenses amounted to $47600. Cost of goods sold amounted to $106,300 s Bait Shop had a beginning balance in its inventory account of $12,800 During the accounting penod, Ken's purchased $56,100 of inventory, obtained $1,680 of purchases al amounted to $880 Ken's incurred $1,380 of tra cost amounted to $14,700. Cost of goods sold amounted to $38 700 and received $600 of purchases discounts. Sales ciscounts nsportation-in cost and $500 of transportation-out cost Seling and administrative Cost of goods available for sale Ending Inventory
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