The balance in the Finished Goods inventory account at the beginning of the year was:

A) $13,500
B) $36,700
C) $500
D) $13,000

Question

The balance in the Finished Goods inventory account at the beginning of the year was:A) $13,500B) $36,700C) $500D) $13,000

Jamal Awadalla · Accepted Answer

Final Answer : A, Explanation :  Ending finished goods inventory = Beginning finished goods inventory + Debits - Credits$13,000 = Beginning finished goods inventory + $218,000 - $218,500Beginning finished goods inventory = $13,000 - $218,000 + $218,500 = $13,500

The balance in the Finished Goods inventory account at the beginning of the year was:

A) $13,500
B) $36,700
C) $500
D) $13,000

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