Assuming the inventory balance at the end of 2017 is $20,000,and it has increased by 10% since the end of 2016,the balance at the end of 2016 (rounded to the nearest whole dollar_was:
A) $18,000
B) $18,182
C) $16,364
D) $22,000

Question

Quizplus · Accepted Answer

If the inventory balance at the end of 2017 is $20,000 and it has increased by 10% since the end of 2016, we can find the inventory balance at the end of 2016 by dividing the current balance by 1.1. 
20,000 / 1.1 = 18,181.81 (rounded to the nearest whole dollar is $18,182). 
Therefore, the balance at the end of 2016 was $18,182, which is option B.

Assuming the Inventory Balance at the End of 2017 Is