Cassie Corporation has provided the following information for its most recent month of operation:
Sales $32,000,beginning inventory $8,000,purchases $16,000 and gross profit $20,000.How much was Cassie's ending inventory?
A)$4,000
B)$8,000
C)$6,000
D)$12,000

Question

Quizplus · Accepted Answer

Sales ($32,000) - Cost of goods sold ($12,000) = Gross profit ($20,000)Beginning inventory ($8,000) + Purchases ($16,000) - Ending inventory ($12,000) = Cost of goods sold ($12,000)

Cassie Corporation Has Provided the Following Information for Its Most