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A company has net sales of $1,400,000 and a cost of goods available for sale of $1,650,000. If the gross profit margin is 40%, the
A company has net sales of $1,400,000 and a cost of goods available for sale of $1,650,000. If the gross profit margin is 40%, the estimated cost of the ending inventory under the gross profit method is:
a. $810,000
b. $840,000
c. $1,090,000
d. $1,009,000
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