Beginning inventory was $5,000. during the month, the company purchased an additional $25,000 of inventory and sold goods that cost $20,000.
Ending inventory was
value of goods sold=beginning inventory+Purchases-ending inventory
20000=5000+25000-finishing stock
finishing inventory=(5000+25000-20000)
=$10000.
The 4 maximum normally used inventory kinds are uncooked materials, paintings in the process (WIP), finished goods, upkeep, repairs and overhauls (MRO). knowing the nature of your inventory will help you manipulate your stock better and smarter.