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60) Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory? OC) $10,000. OD) $50,000. OB) $30,000. OA) $20,000.

60) Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory? OC) $10,000. OD) $50,000. OB) $30,000. OA) $20,000.

Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter10: Auditing Cash And Marketable Securities
Section: Chapter Questions
Problem 37RSCQ
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60) Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory? C) $10,000. D) $50,000. B) $30,000. OA) $20,000.
Transcribed Image Text:60) Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory? C) $10,000. D) $50,000. B) $30,000. OA) $20,000.
92) Which of the following is considered cash for financial reporting purposes? O C) Checks received from customers. O B) Investments with maturity dates greater than three months. OD) Accounts payable. OA) Accounts receivable.
Transcribed Image Text:92) Which of the following is considered cash for financial reporting purposes? O C) Checks received from customers. O B) Investments with maturity dates greater than three months. OD) Accounts payable. OA) Accounts receivable.
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