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Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $12,900 of common stock for cash. 2) The company
Sanchez Company engaged in the following transactions during Year 1:
- 1) Started the business by issuing $12,900 of common stock for cash.
- 2) The company paid cash to purchase $7,800 of inventory.
- 3) The company sold inventory that cost $5,200 for $10,650 cash.
- 4) Operating expenses incurred and paid during the year, $4,700.
Sanchez Company engaged in the following transactions during Year 2:
- 1) The company paid cash to purchase $11,200 of inventory.
- 2) The company sold inventory that cost $9,400 for $17,250 cash.
- 3) Operating expenses incurred and paid during the year, $5,700.
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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