题目
题目

Introduction to Financial Accounting M4: Quiz

单项选择题

ABC Shoe Company uses a perpetual inventory system. The beginning balance in its inventory account is $1,500, and the ending balance is $1,000. Cost of goods sold is $6,500. What was the amount of inventory purchased during the year?

选项
A.$7,500
B.$ 6,000.
C.$7,000
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标准答案
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思路分析
To tackle this problem, I’ll start by outlining the basic relationship in a perpetual inventory system: Beginning Inventory + Purchases − Cost of Goods Sold = Ending Inventory. Option 1: $7,500 as Purchases. If we plug......Login to view full explanation

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