The cost of goods sold for Uzzi Corp. totaled $750,000. Sales returns and purchase returns were $3,000 and $5,000, respectively. Purchases totaled $800,000. Purchase discounts totaled $7,000, while sales discounts totaled $9,000. Beginning inventory was $100,000. Determine the amount of ending inventory to be reported on the company's balance sheet.

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The Answer of The cost of goods sold for Uzzi Corp. totaled $750,000. Sales returns and purchase returns were $3,000 and $5,000, respectively. Purchases totaled $800,000. Purchase discounts totaled $7,000, while sales discounts totaled $9,000. Beginning inventory was $100,000. Determine the amount of ending inventory to be reported on the company's balance sheet.

The Cost of Goods Sold for Uzzi Corp