Reference no: EM133011648
John's Company reported the following information for 2026:
purchase discounts ........................ $ 6,800
accounts receivable ....................... $61,600
sales discounts ........................... $ 2,400
purchase returns .......................... $ 1,900
gross profit .............................. $38,300
freight-in ................................ $11,200
bad debt expense .......................... $17,500
sales revenue ............................. $97,100
beginning inventory ....................... $47,300
purchases ................................. $81,800
freight-out ............................... $ 9,300
sales returns & allowances ................ $12,700
Problem 1: Calculate John's Company's ending inventory for 2026.