Sweetwater Co.updates its inventory perpetually.The company reported a beginning inventory of $3,000.During the year,the company recorded inventory purchases of $9,000 and cost of goods sold of $10,000.What was the amount of its ending inventory?
A) $2,000
B) $5,000
C) $5,200
D) $5,400
Correct Answer:
Verified
Q46: When a company sells goods,it removes their
Q47: Saguaro Company updates its inventory perpetually.Its beginning
Q48: Which of the following kinds of inventory
Q49: Yucca Co.updates its inventory periodically.The company's beginning
Q50: If inventory is updated perpetually,which of the
Q52: Goods placed in inventory are initially recorded
Q53: If inventory is updated periodically,which of the
Q54: Which of the following statements about inventory
Q55: Goods in transit are:
A)inventory items being transported
Q56: Goods available for sale equals:
A)Cost of Goods
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