Mignon Company’s Number of Days’ Sales in Inventory is 30 days (assume 360 days in a year). The company’s cost beginning inventory was $10,000, and its cost of goods sold is $150,000. Determine the company’s cost of ending inventory. $5,000 $7,500 $15,000 Cannot be determined based on information provided Answer is= 15,000 how do you get to this answer?

Mignon Company’s Number of Days’ Sales in Inventory is 30 days (assume 360 days in a year). The company’s cost beginning inventory was $10,000, and its cost of goods sold is $150,000. Determine the company’s cost of ending inventory. $5,000 $7,500 $15,000 Cannot be determined based on information provided Answer is= 15,000 how do you get to this answer?

Name: Mignon Company’s Number of Days’ Sales in Inventory is 30 days (assume
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Description: Mignon Company’s Number of Days’ Sales in Inventory is 30 days (assume 360 days in a year). The company’s cost beginning inventory was $10,000, and its cost of goods sold is $150,000. Determine the company’s cost of ending inventory.$5,000$7,500$15,0

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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