Resolved: Course Challenge
in
Accounting and Financial Statement Analysis
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The Importance of Timing - Revenue and Expense Recognition
In the course challenge excel sheet, I could see inventory as 238,000,000 in the Debits & Credits tab. Can you share the logic behind it?
2 answers ( 1 marked as helpful)
They had opening inventory of $32,000,000 and purchased during the year is $240,000,000 and mentioned in transaction 8 that the closing inventory is $34,000,000. so the raw material used for the production is $238,000,000 ($32000000+$240000000-$34000000).
Yes guys inventory of $32,000,000 is 2014 Balance sheet.