Martha's Rug Company has the following transaction totals for the month. Use this information to answer the questions below.
Sales Returns and Allowances $1,300
Sales Discounts 1,100
Inventory purchased 15,000
HST Paid 720
Sales 42,000
HST Collected 2,415
Discounts on purchases 1,020
Purchases Returns and Allowances 1,400
Cost of Freight-In 920
Beginning Inventory 7,650
Cost of Goods Sold 10,120
Based on the above, Ending Inventory is ________.

Question

Martha's Rug Company has the following transaction totals for the month. Use this information to answer the questions below.
Sales Returns and Allowances        $1,300
Sales Discounts        1,100
Inventory purchased        15,000
HST Paid        720
Sales        42,000
HST Collected        2,415
Discounts on purchases        1,020
Purchases Returns and Allowances        1,400
Cost of Freight-In        920
Beginning Inventory        7,650
Cost of Goods Sold        10,120
Based on the above, Ending Inventory is ________.

Quizplus · Accepted Answer

The Answer of Martha's Rug Company has the following transaction totals for the month. Use this information to answer the questions below.
Sales Returns and Allowances        $1,300
Sales Discounts        1,100
Inventory purchased        15,000
HST Paid        720
Sales        42,000
HST Collected        2,415
Discounts on purchases        1,020
Purchases Returns and Allowances        1,400
Cost of Freight-In        920
Beginning Inventory        7,650
Cost of Goods Sold        10,120
Based on the above, Ending Inventory is ________.

Martha's Rug Company Has the Following Transaction Totals for the Month