Which of the Following Is Used to Arrive at Ending

question 59

Multiple Choice

Which of the following is used to arrive at ending retained earnings?

• A) current year OCI
• B) net income
• C) previous year OCI
• D) stockholders' equity

---

Definitions:

Average Inventory

The mean value of inventory over a certain period of time, calculated to help businesses understand inventory levels and cost of goods sold.

Ending Inventory

This is the total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.

Beginning Inventory

The quantity of goods in stock at the start of a financial period.

Average Inventory

The mean value of the inventory of goods held over a certain period of time, usually calculated by averaging the beginning and ending inventory of a given period.