Broadmor's beginning inventory was $9,000.During the month,the company purchased an additional $45,000 of inventory and sold goods that cost $36,000.Ending inventory was:
A)$9,000
B)$90,000
C)$18,000
D)$0

Question

Quizplus · Accepted Answer

Cost of goods sold = Beginning inventory + Purchases − Ending inventory
Ending inventory = Beginning inventory + Purchases − Cost of goods sold
= $9,000 + $45,000 − $36,000 = $18,000

Broadmor's Beginning Inventory Was $9,000