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A company's beginning inventory is $140,000, its net purchases are $200,000, and its net sales total K$420,000. Its normal gross profit percentage is 35%
A company's beginning inventory is $140,000, its net purchases are $200,000, and its net sales total K$420,000. Its normal gross profit percentage is 35% of sales. Using the gross profit method, how much is ending inventory?
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
4th Edition
978-0133251241, 9780133427516, 133251241, 013342751X, 978-0133255584
