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At May 3 1 , Sheridan Company has net sales of $ 3 5 5 , 0 0 0 and cost of goods available for

At May

31,

Sheridan Company has net sales of $

355, 000

and cost of goods available for sale of $

243, 000 .

Compute the estimated cost of the ending inventory, assuming the gross profit rate is

35 % .

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