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48) Based on the preceding information, which of the following would be the correct account...

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Question

Accounting

48) Based on the preceding information, which of the following would be the correct account balances for 20X7 if Gotham City used the consumption method of accounting for inventories?

Expenditures

Inventory of

Supplies

A)

$

17,000

$

8,000

B)

$

25,000

$

8,000

C)

$

25,000

$

0

D)

$

17,000

$

0

A) Option A

B) Option B

C) Option C

D) Option D

Answer: A

Please explain using clear math steps

Answer & Explanation Solved by verified expert
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