Question
Thompson Company updates its inventory records perpetually. The companys records showed a beginning inventory of $14,000; cost of goods sold of $22,000; and ending inventory
| Thompson Company updates its inventory records perpetually. The companys records showed a beginning inventory of $14,000; cost of goods sold of $22,000; and ending inventory of $16,000. How much inventory was purchased during the year? |
$24,000.
$20,000.
$13,000.
$18,000.
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Financial Accounting
Authors: Anne Britton, Chris Waterston
4th Edition
0273703609, 978-0273703600
