Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. leaping corporation has reported beginning invento

Leaping corporation has reported beginning inventory for September 2019 of $800,000. During the month of...

60.1K

Verified Solution

Question

Accounting

Leaping corporation has reported beginning inventory for September 2019 of $800,000. During the month of September, leaping purchased inventory costing $600,000. Cost of goods sold reported on the income statement for September 2019 was$420,000. Leapings balance sheet as of September 30,2019 should reflect ending inventory of: A. $1,400,000 B. $980,000 C. $620,000 D. $220,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Describe how allele frequencies change due to random genetic drift in a small population versus a...

Chemistry
1.2K views

If 10mL of .18M Zn(NO3)2 is added to 20.0mL of .26M NaCl and concentration of ZnCl2...

Accounting
1.2K views

The Dorilane Company produces a set of wood patio furniture consisting of a table and four...

Physics
1.2K views

A 1.00mH inductor and one 1.00?F capacitor are connected in series. The current in the...

Statistics
1.2K views

K Listed below are body temperatures from five different subjects measured at 8 AM and...

Calculus
1.2K views

A tank is full of water Find the work in ft lb required to pump...

Algebra
1.2K views

Milan is saving up money for a down payment on a condominium She currently has...

Accounting
1.2K views

On January 1st, 2020, Constellation Corporation purchased new equipment paying $75,000 cash on...

Accounting
1.2K views

Sales Variances Assume that Casio Computer Company, LTD. sells G-Shock for $50 during...

Accounting
1.2K views

Please answer everything in 30-40mins i need to submit now its due. ...

Accounting
1.2K views

6)Explain legislation and statutory requirements and industry codes of practice including(Australia): -Consumer credit code -Privacy...

Accounting
1.2K views

Klein Company distributes a high-quality bird feeder that sells for $30 per unit. Variable costs...