Greening Ltd is a newly established business selling computer hardware.Shown below are ledger accounts in T-account form,with entries made for the first month of operations.
- What is the closing balance of inventory?

Question

Greening Ltd is a newly established business selling computer hardware.Shown below are ledger accounts in T-account form,with entries made for the first month of operations. 
-  What is the closing balance of inventory?

Quizplus · Accepted Answer

The closing balance of inventory is $120,000. This is because the beginning balance of inventory was $100,000, and $20,000 worth of inventory was purchased during the year.

Greening Ltd Is a Newly Established Business Selling Computer Hardware