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Northwest Fur Co. started the year with $92,000 of merchandise inventory on hand. During the year. $435,000 in merchandise was purchased on account with credit
Northwest Fur Co. started the year with $92,000 of merchandise inventory on hand. During the year. $435,000 in merchandise was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $7,000. Merchandise with an invoice amount of $4,300 was returned for credit. Cost of goods sold for the year was $375,000. What is ending inventory? o $144,388. o $154,700. o $150,393. o $60,000
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