Selected information regarding a company's most recent quarter follows (all data in thousands). What was the beginning finished goods inventory?
A)$2080
B)$450
C)$740
D)$770

Question

Selected information regarding a company's most recent quarter follows (all data in thousands).  What was the beginning finished goods inventory?
A)$2080 
B)$450 
C)$740 
D)$770

Quizplus · Accepted Answer

The beginning finished goods inventory is the previous quarter's ending finished goods inventory. It can be calculated as:
Beginning Finished goods inventory = Ending finished goods inventory of previous quarter
= $740 (given in the table)

Selected Information Regarding a Company's Most Recent Quarter Follows (All