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If inventory is valued at $10,000 and the company sells goods worth $4,000, what

Practice Questions

Q1
If inventory is valued at $10,000 and the company sells goods worth $4,000, what will be the new inventory value assuming no other changes?
  1. $10,000
  2. $6,000
  3. $4,000
  4. $14,000

Questions & Step-by-Step Solutions

If inventory is valued at $10,000 and the company sells goods worth $4,000, what will be the new inventory value assuming no other changes?
  • Step 1: Identify the initial inventory value, which is $10,000.
  • Step 2: Identify the value of goods sold, which is $4,000.
  • Step 3: Subtract the value of goods sold from the initial inventory value: $10,000 - $4,000.
  • Step 4: Calculate the result, which is $6,000.
  • Step 5: The new inventory value is $6,000.
  • Inventory Valuation – Understanding how to calculate the new inventory value after sales.
  • Cost of Goods Sold (COGS) – Recognizing that the amount sold affects the inventory value.
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