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24 December, 09:23

Tyler Toys has beginning inventory for the year of $19,600. During the year, Tyler purchases inventory for $233,000 and has cost of goods sold equal to $236,000. Tyler's ending inventory equals: Multiple Choice $19,800. $19,600. $16,600. $22,600.

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  1. 24 December, 11:22
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    Answer

    The correct answer is:

    $16,600

    Explanation:

    The ending inventory is the total value of the inventory at hand, that was not sold for the year. To calculate this, we will subtract the total cost of goods sold from the total purchase. This is shown below:

    Beginning inventory = $ 19,600

    Purchased inventory = $ 233,000

    Total inventory value in the year = $ 252,600

    Cost of goods sold = $ 236,000

    Therefore, Ending inventory = Total inventory value in the year - Cost of goods sold

    = 252,600 - 236,000 = $16,600
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Home » Business » Tyler Toys has beginning inventory for the year of $19,600. During the year, Tyler purchases inventory for $233,000 and has cost of goods sold equal to $236,000. Tyler's ending inventory equals: Multiple Choice $19,800. $19,600. $16,600. $22,600.
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