Ace Electronics had cost of goods sold of $20,000.If purchases were
$23,000 and ending inventory was $6,000,Ace's beginning inventory must have been:

Name: Ace Electronics had cost of goods sold of $20,000.If purchases were $23,000 and ending inventory was $6,000,Ace's beginning inventory must have been:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Beginning inventory = Purchases + Beginning inventory - Ending inventory= $23,000 + $x - $6,000= $20,000Therefore, beginning inventory must have been $3,000.

Ace Electronics Had Cost of Goods Sold of $20,000