The cost of goods sold for Johnnie,Inc.totaled $1,305,000.Sales returns and purchase returns were $3,000 and $4,000,respectively.Purchases totaled $1,300,000.Discounts taken by Johnnie totaled $7,000,while discounts taken by customers totaled $5,000.Beginning inventory was $90,000.Determine the amount of ending inventory to be reported on Johnnie,Inc.'s balance sheet.

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The Answer of The cost of goods sold for Johnnie,Inc.totaled $1,305,000.Sales returns and purchase returns were $3,000 and $4,000,respectively.Purchases totaled $1,300,000.Discounts taken by Johnnie totaled $7,000,while discounts taken by customers totaled $5,000.Beginning inventory was $90,000.Determine the amount of ending inventory to be reported on Johnnie,Inc.'s balance sheet.

The Cost of Goods Sold for Johnnie,Inc