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Calculate the total amount of supplies inventory

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Question - Golden Excursions, a company with a December 31 year-end, purchased supplies at a cost of $14,215 during 2016. At January 1, Year 1, supplies on hand were $10,300. During the year, the company used $12,465 of supplies.

Required: Under the accrual basis of accounting, calculate the total amount of supplies inventory to be reported at December 31, Year 1.

Reference no: EM132436633

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