To the nearest thousand, the estimated ending inventory at cost is:
A)$16,000.
B)$15,000.
C)$13,000.
D)$19,000.$16,000

Question

Quizplus · Accepted Answer

The estimated ending inventory at cost is calculated by subtracting the cost of goods sold from the beginning inventory and net purchases. So, in this scenario, the estimated ending inventory at cost would be $45,000 - ($28,000 + $1,000 + $20,000) = $16,000. Therefore, the best choice is A).

To the Nearest Thousand, the Estimated Ending Inventory at Cost