Question

Fill in the missing items for the following inventories: B C $ A 39,000 32,000 Beginning balance Ending balance $ 21,300 18,600 66,000 Transferred in 50,000 52,000 54,000 Transferred out 70,000

Answer 1

Inventories:

	A	B	C
Beginning balance	$ 39,000	$ 21,300	$ 52,000 ***
Ending balance	$ 32,000	$ 18,600	$ 50,000
Transferred in	$ 63,000 *	$ 66,000	$ 52,000
Transferred out	$ 70,000	$ 68,700 **	$ 54,000

Formula: Beginning inventory balance + Transferred in - Transferred out = Ending inventory balance

Workings:

* 39,000 + ? - 70,000 = 32,000

? = 32,000+70,000-39,000 = 63,000

** 21,300 + 66,000 - ? = 18,600

? = 21,300+66,000-18,600 = 68,700

*** ? + 52,000 - 54,000 = 50,000

? = 50,000+54,000-52,000 = 52,000