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Calculate the Inventory balance on the balance sheet

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Question - Daffy Duct, Inc., began operations on January 1. During the year, it made 50,000 rolls of duct tape and sold 40,000 of them.

Daffy Duct incurred the following costs:

Raw materials $8,000

Wages of production workers 2,000

Rent for corporate headquarters 5,000

Depreciation on manufacturing equipment 2,000

Commissions paid to sales people 4,000

Required - Calculate the Inventory balance on the balance sheet at December 31.

Reference no: EM132488294

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