taylor company had beginning inventory of $960 and ending inventory of $1,380. taylor company had cost of goods sold amounting to $2,820. what is the amount of inventory that was purchased during the period?

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25-10-2022
Business

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taylor company had beginning inventory of $960 and ending inventory of $1,380. taylor company had cost of goods sold amounting to $2,820. what is the amount of inventory that was purchased during the period?

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Sameernangalia Sameernangalia · Answer 1 · 2022-10-28T12:11:02+02:00

$3,240 is the amount of inventory that was purchased during the period.

What is cost of inventory?

The costs associated with ordering and maintaining inventory as well as handling the necessary documentation are included in inventory costs. Management considers this expense when determining how much inventory to keep on hand. Customers' order fulfillment rates may fluctuate as a result, and the flow of the production process may also alter. You can categorize inventory costs as follows.

All expenses related to keeping and managing inventory are referred to as inventory costs. All ordering, warehousing, safeguarding, and degrading costs are included in the costs.

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