From the following information, determine the amount of ending inventory. Beginning Inventory ................................... $20,000 Purchases ............................................. 41,000 Purchase Returns and Allowances ....................... 3,000 Purchase Discounts .................................... 4,000 Freight-In ............................................ ? Cost of Goods
Available for Sale ...................... 55,000 Ending Inventory ...................................... ? Cost of Goods Sold .................................... 22,000
a. $23,000
b. $32,000
c. $33,000
d. $22,000
C
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Paul, a customer of a bank, writes a check for $50,000 to a customer of another bank. Which of the following changes will be reflected in Paul's bank's balance sheet?
A. Reserves decrease by $50,000. B. Transactions deposits increase by $50,000. C. Nontransactions deposits increase by $50,000. D. Borrowings increase by $50,000.
Which of the following is an increasingly popular form of gathering physical evidence of fraud?
a. reviewing spending habits of the those possibly involved b. confiscating and searching computers c. tracking missing inventory through bar codes d. creating and viewing surveillance tapes
Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of conviction is filed with the secretary of the institute related to all but which of the following?
A) willful failure to file an income tax return, which the CPA as an individual is required to file B) filing a fraudulent return on the part of the CPA for his or her own return or that of a client C) aiding in the preparation of a fraudulent income tax return of a client D) negligent failure to file an income tax return, which the CPA as an individual is required to file
A brand strategy can best be described by which of the following?
a. the logo and labeling on the product or service b. the plan to market the product c. the plan to communicate the brand messages to the target audience d. the plan that organizes, controls, and legally protects the brand