Question
Ritas Ice Cream Corp. purchased supplies at a cost of $26,000 during Year3. At January 1, Year3, supplies on hand were $2,000. At December 31,
Ritas Ice Cream Corp. purchased supplies at a cost of $26,000 during Year3. At January 1, Year3, supplies on hand were $2,000. At December 31, Year3, supplies on hand are $2,300.
Supplies expense for Year3 will be:
| a. | $26,000 | |
| b. | $26,300 | |
| c. | $25,700 | |
| d. | $23,700 |
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Accounting For Inventory
Authors: Steven M. Bragg
2nd Edition
1938910648, 9781938910647
