Question
If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory on June 30, June 1 Merchandise Inv$75,000
If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory on June 30,
June 1 Merchandise Inv………………$75,000
June 1–30 Purchases (net)…………….$150,000
June 1-30 Sales (net)…………………..$135,000
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Sales 135000 Gross Profit 30 Gross Profit 13500030 40500 ...
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
