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Sanchez Company engaged in the following transactions during Year 1: Started the business by issuing $12.100 of common stock for cash. The company paid cash
Sanchez Company engaged in the following transactions during Year 1:
- Started the business by issuing $12.100 of common stock for cash.
- The company paid cash to purchase $7.400 of inventor.
- The company sold inventory that cost $4.800 for $9.650 cash.
- Operating expenses incurred and paid during the year, $4,300.
Sanchez Company engaged in the following transactions during Year 2
- The company paid cash to purchase $10.400 of inventory.
- The company sold inventory that cost $9,000 for $16,250 cash.
- Operating expenses incurred and paid during the year, $5.300
Note: Sanchez uses the perpetual inventory system.
What is the amount of inventory that will be shown on the balance sheet at December 31. Year 2?
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