Question: Egg Company purchases $ 2 2 0 , 0 0 0 of inventory during the period and sells $ 7 2 , 0 0 0

Egg Company purchases $220,000 of inventory during the period and sells $72,000 of it for $120,000. Beginning of the period inventory was $12,000. What is the company's inventory's ending balance to be reported on its balance sheet at year end?
$12,000
$72,000
$160,000
$8,000
Egg Company purchases $ 2 2 0 , 0 0 0 of

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