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The following account balances (normal balances) were taken from the journal entry used to transfer various merchandise amounts under a periodic inventory system into
The following account balances (normal balances) were taken from the journal entry used to transfer various merchandise amounts under a periodic inventory system into the Cost of Goods Sold account: Cost of Goods Sold Inventory (ending) Freight-In Purchase Discounts Purchases Purchase Return $200,000 71,000 5,500 4,000 185,000 5,700 Based on the above facts, what was the beginning inventory? Select one: O a. $65,300 O b. $51,800 O c. $70,800 Od. $95,700 O e $90,200
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