CFA Practice Question

CFA Practice Question

On Dec 31, 20X7 a firm has inventory valued at $12.9 million (beginning value for year 20X8). The COGS for 20X8 is $22.7 million. The purchase (going to the inventory) of goods P is $24.2 million. The value of inventory on Dec 31, 20X8 (ending value for year 20X8) is:
A. 11.4
B. 13.7
C. 14.4
Explanation: Ending Inventory = Beginning Inventory + Purchases - COGS

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