Based on the following data, estimate the cost of ending merchandise inventory: Sales (net) $ 5,260,000 Estimated
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Sales (net) $ 5,260,000
Estimated gross profit rate 40%
Beginning merchandise inventory $ 180,000
Purchases (net) 3,200,000
Merchandise available for sale $ 3,380,000
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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