Question
Shockglass Company had a beginning inventory of $22,000. During the year, the company recorded inventory purchases of $115,000 and cost of goods sold of $64,000.
Shockglass Company had a beginning inventory of $22,000. During the year, the company recorded inventory purchases of $115,000 and cost of goods sold of $64,000. The ending inventory must equal:
A) $73,000.
B) $33,000.
C) $32,000.
D) $34,000.
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
