Beginning and Ending Inventories Are $700 and $600,respectively

question 50

Multiple Choice

Beginning and ending inventories are $700 and $600,respectively.The income statement debit and credit columns of the worksheet total $2,500 and $2,500,respectively,not including the adjustment amounts for beginning and ending inventories.The net income or loss for the period is:

• A)$150 net income.
• B)$150 net loss.
• C)$100 net income.
• D)$100 net loss.

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