Beginning inventory is $70,000, net purchases total $365,000, and net sales are $500,000. With a normal gross
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Beginning inventory is $70,000, net purchases total $365,000, and net sales are $500,000. With a normal gross profi t rate of 40% of sales (cost of goods sold = 60%), how much is ending inventory?
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Related Book For 
Financial Accounting International Financial Reporting Standards
ISBN: 9780273777809
1st Global Edition
Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy
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