Question

Tyler Toys has beginning inventory for the year of $19,600. During the year, Tyler purchases inventory for $239,000 and has cost of goods sold equal to $243,000. Tyler's ending inventory equals:______

Answer 1

Answer:

($15,600)

Explanation:

Ending Inventory Balance is calculated as

Cost of goods sold                $243,000

Less beginning inventory       ($19,600)

Less purchases                    ($239,000)

Ending Inventory Balance      ($15,600)