The following information was taken from the 2011 income statement of ultimate sales: pretax income, $12,000; total operating expenses (not including income taxes), $21,000; sales revenue, $120,000; beginning inventory, $11,000; and purchases, $90,000. compute the amount of the ending inventory for the company:

Ending inventory = 14,000

Explanation:

First, we must clear the COSG from the Pretax Income calculation:

Pretax income = Sales revenue - COSG - Total operating expenses

COSG = Sales revenue - Total operating expenses - Pretax income

COSG = 120,000 - 21,000 - 12000

COSG = 87,000

With this data we can clear the ending inventory of the COSG formula:

COSG = Beginning inventory + Purchases - Ending inventory

Ending inventory = Beginning inventory + Purchases - COSG

Ending inventory = 11,000 + 90,000 - 87,000

Ending inventory = 14,000

the answer is either "loser" or "dumb*ss"

gods, i'm only joking, don't ban me.*

answer; (b) insider trading;