Assuming the inventory balance at the end of 2017 is $35,000,and it has increased 10% since the end of 2016,the balance at the end of 2016 (rounded to the nearest whole dollar_was:
A) $31,818
B) $38,500
C) $30,000
D) $32,500

Question

Quizplus · Accepted Answer

The inventory balance at the end of 2017 is $35,000, which represents a 10% increase from the end of 2016. To find the original amount before the increase, divide the final amount by 1.10 (100% + 10% = 110% or 1.10). So, $35,000 / 1.10 = $31,818 (rounded to the nearest whole dollar).

Assuming the Inventory Balance at the End of 2017 Is