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    Business
  3. Study Set
    Fundamentals of Financial Accounting
  4. Exam
    Exam 6: Internal Control and Financial Reporting for Cash and Merchandising Operations
  5. Question
    Beginning Inventory Was $5,000
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Beginning Inventory Was $5,000

Question 124

Question 124

Multiple Choice

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:


A) $5,000
B) $50,000
C) $10,000
D) $0

Correct Answer:

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