Question

Tyler Toys has beginning inventory for the year of $19,600. During the year, Tyler purchases inventory for $239,000 and has cost of goods sold equal to $243,000. Tyler's ending inventory equals:______

Answer 1

($15,600)

Step-by-step explanation:

Ending Inventory Balance is calculated as

Cost of goods sold $243,000

Less beginning inventory ($19,600)

Less purchases ($239,000)

Ending Inventory Balance ($15,600)