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what's is the ending inventory?

what's is the ending inventory?

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Answer #1

Ending inventory is the inventory balance available at the end of an accounting or financial year.

Ending inventory is valued at the lower of cost or market value.

Formula to calculate ending inventory is as follows:

Ending inventory = Beginning inventory + Net purchase + Direct expenses - Cost of goods sold

For a manufacturer, there is three types of ending inventory:

1) Raw materials ending inventory

2) Work in process ending inventory

3) Finished goods ending inventory

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