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:
| Â | Increase |
Assets | $400,000 |
Liabilities | 150,000 |
Capital stock | 120,000 |
Additional paidin capital | 110,000 |
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