Question
Leaping corporation has reported beginning inventory for September 2019 of $800,000. During the month of September, leaping purchased inventory costing $600,000. Cost of goods sold
Leaping corporation has reported beginning inventory for September 2019 of $800,000. During the month of September, leaping purchased inventory costing $600,000. Cost of goods sold reported on the income statement for September 2019 was$420,000. Leapings balance sheet as of September 30,2019 should reflect ending inventory of: A. $1,400,000 B. $980,000 C. $620,000 D. $220,000.
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Financial Accounting International Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
6th Edition
978-0470623275
