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Question - Toshyo purchases an inventory of spare parts on credit from its suppliers for $15 000. During the month Toshyo pays its suppliers $10 000 and sells spare parts (which cost the business $8 000) to its customers on credit for $20 000. Customers pay Toshyo $12 000 during the month. By how much does Inventory increase?
A) $2.000
B) $5,000
C) $7,000
D) $8,000
Beginning Merchandise Inventory 100 units at $ 81, What would be reported for ending Merchandise Inventory on the balance sheet at December 31, 2018
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