Answer:
ending finished inventory= $95,500
Explanation:
Giving the following information:
Beginning inventory= $24,500.
Purchases= $140,000
Cost of goods sold of $69,000
To calculate the ending inventory, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
69,000= 24,500 + 140,000 - ending finished inventory
ending finished inventory= 164,500 - 69,000
ending finished inventory= $95,500
