given-the-following-transactions-beginning-inventory-20000-purchases-15000-purch

Question

Given the following transactions: Beginning Inventory $20,000, Purchases $15,000, Purchase Discounts $1,000, Purchase Returns $2,000, and COGS $10,000, what is the ending inventory balance using a T account?

Accepted Answer

$22,000

Answer

$20,000

Answer

$18,000

Answer

$24,000

Given the following transactions: Beginning Inventory \$20,000, Purchases \$15,000, Purchase Discounts \$1,000, Purchase Returns \$2,000, and COGS \$10,000, what is the ending inventory balance using a T account?