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What is ending inventory

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Question - Northwest Fur Co. Started the year with $98,000 of merchandise inventory on hand. During the year, $430,000 in merchandise was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in-charges of$8,000. Merchandise with an invoice amount of $4,800 was returned for credit.  Cost of goods sold for the year was $380,000. What is ending inventory?

a. $156,943 

b. $151,200

c. $146,948

d. $50,000

Reference no: EM132840566

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