For last month, Perma Corp.'s cost of goods sold and endinginventory were $100,000 and $150,000 respectively. Assuming
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Question:
For last month, Perma Corp.'s cost of goods sold and endinginventory were $100,000 and $150,000 respectively. Assuming Permahad neither purchases nor returns during the month, what was thecost of its beginning inventory?
a) $50,000
b) $150,000
c) $250,000
d) Cannot be determined from the information given.
Related Book For
Federal Taxation 2018 Corporations, Partnerships, Estates & Trusts
ISBN: 9780134550923
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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