In June, HSG Corp. purchased $375,000 in inventory, and their cost of goods sold for the month totaled $408,000. If HSG Corp.'s beginning inventory was $67,000, what is their ending inventory? A $341,000 B $475,000 C $34,000 D $442,000 E Not enough information given to determine an answer

Question

Titus

Business

4 January, 19:28

In June, HSG Corp. purchased $375,000 in inventory, and their cost of goods sold for the month totaled $408,000. If HSG Corp.'s beginning inventory was $67,000, what is their ending inventory? A $341,000 B $475,000 C $34,000 D $442,000 E Not enough information given to determine an answer

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Answers (1)

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Ethen Schneider · Answer 1

C 34,000

Explanation:

Beginning Inventory

+ Purchase for the period

- COGS (output of units)

Ending Inventory

67,000 Beginning

375,000 Purchased unit

442,000 good available for sale

(408,000) cost of good sold

34,000 ending inventory

The purchase increase the amount of unit in inventory

and the sales decrease the inventory by the amount of cost of goods sold