The following relate to Owens data in 2010. What is the ending inventory?
|
Purchases |
$580,000 |
|
Beginning inventory |
80,000 |
|
Purchase returns |
8,000 |
|
Sales |
900,000 |
|
Cost of goods sold |
520,000 |
1. $150,000
2. $132,000
3. $152,000
4. $170,000
5. $142,000
Changes in account balances of Gross Flowers during 2010 were as follows:
|
Increase |
|
|
Assets |
$400,000 |
|
Liabilities |
150,000 |
|
Capital stock |
120,000 |
|
Additional paidin capital |
110,000 |