If $6,700 Was the Beginning Inventory, Purchases Were $12,000 and Sales

question 118

Multiple Choice

If $6,700 was the beginning inventory, purchases were $12,000 and sales were $6,000. How much was ending inventory last accounting period?

• A) $12,700
• B) $6,700
• C) $0
• D) $6,000

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Definitions:

Compulsion

An irresistible urge to behave in a certain way, especially against one's conscious wishes.

Obsession

A persistent, intrusive, and unwanted thought or urge that causes significant anxiety or distress.

Repeatedly Checking

Compulsive behaviors characterized by the need to check things over and over, often associated with obsessive-compulsive disorder (OCD).

Agoraphobia

An anxiety disorder characterized by an intense fear of being in situations where escape might be difficult or help wouldn't be available if things go wrong.