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At the beginning of the year, Jessica Company had an inventory of $300,000. During the year, the company purchased merchandise costing $850,000. Net sales for
At the beginning of the year, Jessica Company had an inventory of $300,000. During the year, the company purchased merchandise costing $850,000. Net sales for the year totaled $1,200,000 and the gross profit rate was 45%. Determine the cost of the ending inventory.
How can I get the $490,000.
Thank you.
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