Question
Shanigan Goods purchases $20,000 of inventory during the period and sells $18,000 of it for $30,000. Beginning of the period inventory was $3,000. What is
Shanigan Goods purchases $20,000 of inventory during the period and sells $18,000 of it for $30,000. Beginning of the period inventory was $3,000. What is the companys inventory balance to be reported on its balance sheet at year end?
| A. | $ 5,000 |
| B. | $ 3,000 |
| C. | $ 2,000 |
| D. | $18,000 |
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
3rd edition
78025427, 978-0077736460, 007773646X, 978-0078025426
