Haltom Company updates its inventory perpetually.The company reported a beginning inventory of $7,500.During the year,the company recorded inventory purchases of $38,500 and cost of goods sold of $25,000.
Required:
Determine the amount of ending inventory.

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The Answer of Haltom Company updates its inventory perpetually.The company reported a beginning inventory of $7,500.During the year,the company recorded inventory purchases of $38,500 and cost of goods sold of $25,000.
Required:
Determine the amount of ending inventory.

Haltom Company Updates Its Inventory Perpetually