Question $10(1$ point$)$

REYNOLDS INVENTORY FLOWS PROBLEM: Reynolds Company has beginning

inventory balances of $$120,000$ for raw materials inventory, $$30,000$ for work in

process inventory, and $$400,000$ for finished goods inventory. During the period,

Reynolds purchased $$340,000$ worth of materials and placed $$370,000$ worth of

materials into production. Reynolds incurred $$900,000$ in direct labor costs and

applied $$710,000$ in overhead during the period. The cost of goods completed

during the period was $$1,990,000$ and the cost of goods sold to customers during

the period was $$2,100,000.$

What is Reynolds' ending balance for FINISHED GOODS INVENTORY?

$$290,000$

$$510,000$

$$440,000$

$$400,000$