Garfield's Goods purchases $80,000 of inventory during the period, has beginning of the period inventory of $12,000, and sells $72,000 of inventory during the period for $120,000.
What is the company's inventory balance to be reported on its balance sheet at year end?
A) $36,000
B) $20,000
C) $10,000
D) $12,000

Question

Quizplus · Accepted Answer

$12,000 + 80,000 ? $72,000 = $20,000

Garfield's Goods Purchases $80,000 of Inventory During the Period, Has