The Argyle Company has provided the following data for the month of November:

	Inventories	November 1		November 30
	Raw materials .......................................................................	$15,000		$ ?
	Work in process ....................................................................	12,000		10,000
	Finished goods ......................................................................	?		7,000
	Additional Data:
	Sales revenue .........................................................................................		$100,000
	Direct labor costs ..................................................................................		8,000
	Manufacturing overhead costs ..............................................................		10,000
	Selling expenses .....................................................................................		12,000
	Administrative expenses .......................................................................		13,000
	Cost of goods manufactured ..................................................................		30,000
	Raw materials purchases .......................................................................		9,000

2. The ending raw materials inventory was:

A) $11,000.

B) $16,000.

C) $ 9,000.

D) $14,000.

3. If net operating income was $50,000, then the beginning finished goods inventory was:

A) $18,000.

B) $12,000.

C) $32,000.

D) $ 2,000.