Anthony's Shoe Company uses a perpetual inventory system.The beginning balance in its inventory account is $1,500 and the ending balance is $1,000.Cost of goods sold is $6,500.What was the amount of inventory purchased during the year?
A) $ 500
B) $7,000
C) $7,500
D) $6,000

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The Answer of Anthony's Shoe Company uses a perpetual inventory system.The beginning balance in its inventory account is $1,500 and the ending balance is $1,000.Cost of goods sold is $6,500.What was the amount of inventory purchased during the year?
A) $ 500
B) $7,000
C) $7,500
D) $6,000

Anthony's Shoe Company Uses a Perpetual Inventory System