Ebbe, Inc. purchased merchandise for $500,000; received creditfor purchase retur

Question

Ebbe, Inc. purchased merchandise for $500,000; received creditfor purchase returns of $25,000, took purchase discounts of$10,000, and paid transportation costs of $15,000. Refer to Ebbe,Inc. If Ebbe, Inc. had $20,000 in beginning inventory, and soldgoods costing $300,000, what is the ending inventorybalance?
a. $500,000 b. $520,000 c. $200,000 d. $220,000 Ebbe, Inc. purchased merchandise for $500,000; received creditfor purchase returns of $25,000, took purchase discounts of$10,000, and paid transportation costs of $15,000. Refer to Ebbe,Inc. If Ebbe, Inc. had $20,000 in beginning inventory, and soldgoods costing $300,000, what is the ending inventorybalance?
a. $500,000 b. $520,000 c. $200,000 d. $220,000

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