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A company reported the following information for its most recent year of operation: purchases, $100,000; beginning inventory, $20,000; and cost of goods sold, $110,000. How much was the company's ending inventory

Respuesta :

Answer:

$10,000

Explanation:

Given that,

A company reported the following information:

Purchases = $100,000

Beginning inventory = $20,000

Cost of goods sold = $110,000

Ending inventory:

= Purchases + Beginning inventory - Cost of goods sold

= $100,000 + $20,000 - $110,000

= $10,000

Therefore, the company's ending inventory is $10,000.