Reference no: EM132737889
The following was extracted on unadjusted trial balance:
Merchandise Inventory end, 220,000
Purchases, 150,000
Purchases Discounts, 20,000
Purchase Returns and Allowance, 40,000
Transportation In, 10,000
Transportation Out, 20,000
Cost of Goods Sold, 120,000
Problem 1: Merchandise Inventory beginning should be?
a. 220,000
b. 200,000
c. 240,000
d. cannot be computed
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