Beginning inventory of finished goods, Accounting Basics

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Beginning inventory of finished goods

The Lyons Company's cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $30,000, the beginning inventory of finished goods must have been:

a. $20,000.

b. $50,000.

c. $110,000.

d. $150,000.

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Accounting Basics: Beginning inventory of finished goods

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Accounting Basics: Beginning inventory of finished goods

Reference No:- TGS096497

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Recent Questions Asked Accounting Basics

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Ask an Expert for Answer!!

Accounting Basics: Beginning inventory of finished goods

Reference No:- TGS096497

Recent Questions Asked Accounting Basics

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