Multiple Choice
A company loses it opening financial records in a fire.During the following year, it incurred costs of production of $250,000 and sold $300,000 in merchandise.It took an inventory count and found that it had $100,000 in product on hand.What should the company's opening inventory show before the fire?
A) $50,000
B) $100,000
C) $150,000
D) Cannot be determined from the above information
Correct Answer:
Verified
Correct Answer:
Verified
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