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Northwest Fur Company started the year with $90,000 of inventory on hand. During the year, $410,000 in inventory was purchased on account with credit
Northwest Fur Company started the year with $90,000 of inventory on hand. During the year, $410,000 in inventory was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $8,000. Inventory with an invoice amount of $4,300 was returned for credit. Cost of goods sold for the year was $374,000. What is ending inventory? Multiple Choice $36,000 $120,638 $125,643 $129,700
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