Selected information regarding a company's most recent quarter follows (all data in thousands). $\begin{array}{|l|rr|}
\hline \text { Operating expenses } & \$ & 700 \
\hline \text { Gross profit } & \$ & 2,390 \
\hline \text { Sales revenue } & \$ & 4,000 \
\hline \text { Ending finished goods inventory } & \$ & 200 \
\hline \text { Cost of goods manufactured } & \$ & 1,560 \
\hline
\end{array}$
- What was the beginning finished goods inventory?
A)$ 1,740
B)$ 250
C)$ 1,060
D)$ 860

Question

Selected information regarding a company's most recent quarter follows (all data in thousands). $\begin{array}{|l|rr|}
\hline \text { Operating expenses } & \$ & 700 \
\hline \text { Gross profit } & \$ & 2,390 \
\hline \text { Sales revenue } & \$ & 4,000 \
\hline \text { Ending finished goods inventory } & \$ & 200 \
\hline \text { Cost of goods manufactured } & \$ & 1,560 \
\hline
\end{array}$ 
- What was the beginning finished goods inventory?
A)$ 1,740
B)$ 250
C)$ 1,060
D)$ 860

Quizplus · Accepted Answer

The beginning finished goods inventory is listed under the heading "Beginning finished goods inventory" and has a value of $250,000, which is equivalent to $250 in thousands.

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