MyLab and Mastering × Chapter 6 @ Review Test-zakia opiani N Netflix x C Chegg.c
ID: 2544341 • Letter: M
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MyLab and Mastering × Chapter 6 @ Review Test-zakia opiani N Netflix x C Chegg.com × c secure https://www.mathxl.com/Student PlayerTest aspx?testResultid-6892002678back-Student Results asp 63Fhandle urn%3Dpearson%252fccng acct 252tslink%252f-pearson-cc BUSAC 186 -2561 MW 10-11:50AM Zakia opiani 1 3/15/18 9:00 PM Review Quiz: Chapter 6 Quiz Close Score: 0 of 1 pt 210121 Test Score: 78.46%, 19.62 of 25 pts X6.5-7a Blue Company has the following data for the year: Beginning inventory $90,000 Net purchases Net sales revue$300,000 Ncrmal gross profit rate $110,000 40% What is the estimated ending inventory? (Round your final answer to the nearest dollar.) OA. $200,000 B. $20,000. OC. $180,000. XD. $80,000. You answered D· $80,000 Question is complete. Tap on the red indicators to see incorrect answers.Explanation / Answer
B. $20,000
Ending inventory = Beginning inventory + Purchases - Cost of goods sold
Ending inventory = $90,000 + $110,000 - (60% × $300,000)
Ending inventory = $20,000
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