The following relate to Data Original in 2012.What is the ending inventory? $$\begin{array} { l r }
\text {Purchases}&\$540,000\
\text {Beginning Inventory}&80,000\
\text {Purchase Returns}&10,000\
\text {Sales}&800,000\
\text {Cost of Goods Sold}&490,000\
\end{array}$$
A)$120,000
B)$140,000
C)$210,000
D)$260,000
E)none of the answers are correct

Question

The following relate to Data Original in 2012.What is the ending inventory? $$\begin{array} { l r } 
\text {Purchases}&\$540,000\
\text {Beginning Inventory}&80,000\
\text {Purchase Returns}&10,000\
\text {Sales}&800,000\
\text {Cost of Goods Sold}&490,000\
\end{array}$$
A)$120,000
B)$140,000
C)$210,000
D)$260,000
E)none of the answers are correct

Quizplus · Accepted Answer

The ending inventory is calculated as: Beginning Inventory + Purchases - Purchase Returns - Cost of Goods Sold = $80,000 + $540,000 - $10,000 - $490,000 = $120,000.

The Following Relate to Data Original in 2012 A)$120,000 B)$140,000 C)$210,000 D)$260,000 E)none of the Answers Are Correct

The Following Relate to Data Original in 2012 A)$120,000
B)$140,000
C)$210,000
D)$260,000
E)none of the Answers Are Correct