From the following information,determine the amount of ending inventory.

Name: From the following information,determine the amount of ending inventory.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The ending inventory can be obtained by adding the beginning inventory (given as $18,000) to the purchases during the period ($65,000) and then subtracting the cost of goods sold ($50,000). Therefore, ending inventory = beginning inventory + purchases - cost of goods sold = $18,000 + $65,000 - $50,000 = $33,000.

From the Following Information,determine the Amount of Ending Inventory