Business, 06.05.2020 08:26 ashley232323
This year, Yuan started a business selling computer parts both in store and online. He purchased $60,000 of goods during the year via credit card. His ending inventory was $9,000. For tax purposes, Yuan adopted the cash method and the treatment of inventory as deductible when purchased per his books. His deduction for inventory for the year is:
a $69,000.
b. None of the above.
c $60,000.
d $51,000
Answers: 1
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This year, Yuan started a business selling computer parts both in store and online. He purchased $60...
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