Question: Can you explain the correct approach to solve this general accounting question? XYZ Corporation uses a periodic inventory system. At the beginning of the year,

Can you explain the correct approach to solve this general accounting question?

XYZ Corporation uses a periodic inventory system. At the beginning of the year, the company had supplies on hand worth $10,000. During the year, the company purchased additional supplies worth $18,000. At the end of the year, the company has supplies on hand worth $4,000. What is the supplies expense for XYZ Corporation for the year

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