Greenies Inc.updates its inventory periodically.The company's cost of goods sold was $24,700 and purchases were $12,000 during the year.The company's ending inventory count was $3,500.
Required:
Determine the amount of beginning inventory.

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The Answer of Greenies Inc.updates its inventory periodically.The company's cost of goods sold was $24,700 and purchases were $12,000 during the year.The company's ending inventory count was $3,500.
Required:
Determine the amount of beginning inventory.