Question 1 Not yet answered Marked out of 2.00 Flag question You are currently preparing the Balance sheet for the year ended Dec 31, 2022. The following details are provided to you: Total cost of Finished goods produced during the year: $7,500,000 Cost of Goods sold during the year: $5,000,000 Beginning inventory: $1,000,000 What will enter as the Ending inventory balance in your Balance sheet? Oa. $500,000 b. $3,000,000 O c. $3,500,000 Od. $1,500,000 Oe. $2,500,000

\begin{tabular}{l|l} Question 1 & You are currently preparing the Balance sheet for the year ended Dec31,2022. The following \end{tabular} details are provided to you: Total cost of Finished goods produced during the year: $7,500,000 Cost of Goods sold during the year: $5,000,000 Beginning inventory: $1,000,000 What will enter as the Ending inventory balance in your Balance sheet? a. $500,000 b. $3,000,000 c. $3,500,000 d. $1,500,000 e. $2,500,000