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If $4,000 Was the Beginning Inventory, $10,000 in New Inventory

Question 10

Multiple Choice

If $4,000 was the beginning inventory, $10,000 in new inventory purchases were made and the cost of goods sold were $7,000. How much was ending inventory last accounting period?


A) $7,000
B) $4,000
C) $14,000
D) $3,000

Correct Answer:

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