The cost of goods sold for Annah, Inc. totaled $1,305,000. Sales returns and purchase returns were $3,000 and $4,000, respectively. Purchases totaled $1,300,000. Purchase discounts totaled $7,000, while sales discounts totaled $5,000. Beginning inventory was $90,000. Determine the amount of ending inventory to be reported on Annah's balance sheet.

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The Answer of The cost of goods sold for Annah, Inc. totaled $1,305,000. Sales returns and purchase returns were $3,000 and $4,000, respectively. Purchases totaled $1,300,000. Purchase discounts totaled $7,000, while sales discounts totaled $5,000. Beginning inventory was $90,000. Determine the amount of ending inventory to be reported on Annah's balance sheet.

The Cost of Goods Sold for Annah, Inc