Question
ABC started the year with $1,391,000 of inventory and purchased $2,965,000 more inventory during the year. The company earned a gross profit of $726,000 on
ABC started the year with $1,391,000 of inventory and purchased $2,965,000 more inventory during the year. The company earned a gross profit of $726,000 on sales of $4,124,000 during the year. Given this information, what is ABC's inventory at the end of the year?
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Financial Statement Analysis
Authors: Charles H. Gibson
13th International Edition
1133189407, 9781133189404
