Balance in the inventory account problem

Reference no: EM13258440

ABC Company reported cost of goodssold of $620,500 during 2005 and a number of days' sales ininventory ratio of 50 days. ABC Company reported inventory of $78,000 on the December31, 2005 balance sheet. The balance in the inventory account at January 1, 2005 was equal to:

	A)	$85,000
	B)	$90,410
	C)	$51,100
	D)	$78,000
	E)	$92,000

Reference no: EM13258440

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