Saguaro Company updates its inventory perpetually. Its beginning inventory is $70,000, goods purchased during the period cost $240,000, and the cost of goods sold for the period is $280,000. What is the amount of the ending inventory

Ending inventory = 30,000

Explanation:

Giving the following information:

Its beginning inventory is $70,000, goods purchased during the period cost $240,000, and the cost of goods sold for the period is $280,000.

The ending inventory is the cost of the units remaining at the end of the period.

COGS = beginning finished inventory + cost of goods purchased - ending finished inventory

280,000 = 70,000 + 240,000 - ending inventory

ending inventory = 70,000 + 240,000 - 280,000

Ending inventory = 30,000