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Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory?

Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory?
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Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory?

User Evgeny Ruban
by
7.8k points

1 Answer

1 vote
Ending Inventory = Beginning Inventory + Purchases - COGS

=$30,000 + $50,000 - $60,000
= $20,000
User WarrenB
by
8.3k points
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