Andrews Corp. ended the year carrying $77,959,000 worth of inventory. Had they sold their entire inventory at their current prices, how much more revenue would it have brought to Andrews Corp.?
Inventory or Stock of goods is the left-over finished goods which remain unsold for the time being. This inventory is then carried over to the next sales period and attempts are made to sell them fast so as to avoid further storage costs.
Answer and Explanation:
If the entire inventory had been sold then the current revenue would have increased by $77,959,000.
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from Financial Accounting: Help and ReviewChapter 5 / Lesson 27