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Northwest Fur Company started the year with $100,000 of Inventory on hand. During the year, $415,000 in inventory was purchased on account with credit
Northwest Fur Company started the year with $100,000 of Inventory on hand. During the year, $415,000 in inventory was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $7,000. Inventory with an invoice amount of $4,900 was returned for credit. Cost of goods sold for the year was $377,000. What is ending Inventory? Multiple Choice $38,000 $129.994 $140,100 $135,999
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