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Assume atcompany has opening inventory of $ 1 , 0 0 0 , purchases of $ 6 , 0 0 0 and sales revenue of

Assume atcompany has opening inventory of $1,000, purchases of $6,000 and sales revenue of $8,000. The company has a markup rate of 140%. Estimated ending inventory using the retail method is
$1,800
$1,285
$1,000
$1,400
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