Tyler Toys has beginning inventory for the year of $19,600. During the year, Tyler purchases inventory for $233,000 and has cost of goods sold equal to $236,000. Tyler's ending inventory equals: Multiple Choice $19,800. $19,600. $16,600. $22,600.
llm
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Given the statement:
Tyler Toys has beginning inventory for the year of $19,600. During the year, Tyler purchases inventory for $233,000 and has cost of goods sold equal to $236,000.
Determine Tyler's ending inventory equals.
Solution:
In order to determine Tyler's ending inventory equals, we simply need to subtract $236,000 by $233,000, and then add the difference by $19,600
= $236,000 - $23,000
= $3000
= $3000 + $19,600
= $22,600
Final answer:
= $22,600