The following information comes from the annual reports of Devin Designs.
$$\begin{array} { | l | r | r | r | }
\hline & { \mathbf { 2 0 1 7 } } & { \mathbf { 2 0 1 5 } } &\mathbf {2 0 1 5 } \
\hline \text { Beginning irventary } & ? & ? & 2 , 2 5 0\
\hline \text { Purchases } & 12,652 & ? & ? \
\hline \text { Goods available for sale } & ? & ? & 12 ,899\
\hline \text { Ending irventary } & ? &2 , 6 6 2 & ? \
\hline \text { Cost of goods sald } & 12,213 & 10 , 9 08& 10,490 \
\hline
\end{array}$$

What is the beginning inventory amount for 2016?

Question

The following information comes from the annual reports of Devin Designs.
$$\begin{array} { | l | r | r | r | } 
\hline & { \mathbf { 2 0 1 7 } } & { \mathbf { 2 0 1 5 } } &\mathbf {2 0 1 5 } \
\hline \text { Beginning irventary } & ? & ? &  2 , 2 5 0\
\hline \text { Purchases } & 12,652 & ? & ? \
\hline \text { Goods available for sale } & ? & ? & 12 ,899\
\hline \text { Ending irventary } & ? &2 , 6 6 2  & ? \
\hline \text { Cost of goods sald } & 12,213 & 10 ,  9 08& 10,490 \
\hline
\end{array}$$

What is the beginning inventory amount for 2016?

Quizplus · Accepted Answer

The beginning inventory for 2016 is $13,570. This can be calculated by subtracting the cost of goods sold and the ending inventory for 2016 from the goods available for sale for 2016.

The Following Information Comes from the Annual Reports of Devin