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Based upon the following data, estimate the cost of ending merchandise inventory:objs. 4, 5 Sales (net) Estimated

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Based upon the following data, estimate the cost of ending merchandise inventory:objs. 4, 5image text in transcribed

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Sales (net) Estimated gross profit rate Beginning merchandise inventory Purchases (net) Merchandise available for sale $1,500,000 35% $ 180,000 1,200,000 $1,380,000

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Usman Nasir
I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
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