1. PineappleCo is a merchandising company that sells a variety of products. On January 1 of this year, PineappleCo had a balance in inventory of $600. Throughout the year, PineappleCo made $9,230 in purchases and spent $690 in Freight-In and $210 in duties. PineappleCo also had the following income statement for the year ending December 31. What is the balance in inventory on December 31 of this year?

   Revenue	14,200
   less: COGS	(9,700)
   equals: Gross Profit	4,500
   less: Operating Expenses	(4,100)
   equals: Net Income	400

   		5,330
   		10,730
   		130
   		1,030