Answer:
the amount of ending inventory is $169,000
Explanation:
The computation of the amount of ending inventory is shown below:
As we know that
Cost of goods sold = Opening inventory + purchase made - ending inventory
$996,000 = $203,000 + $962,000 - ending inventory
$996,000 = $1,165,000 - ending inventory
So, the ending inventory is
= $1,165,000 - $996,000
= $169,000
hence, the amount of ending inventory is $169,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
