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 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Management A Practical Introduction
Authors: Angelo Kinicki, Brian Williams
5th edition
978-1111821227, 9781133190363, 1111821224, 1133190367, 978-0078112713
