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Based upon the following data, estimate the cost of ending inventory using the gross profit method. Sales $819,000 Estimated gross profit rate 45% $56,800 Beginning

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Based upon the following data, estimate the cost of ending inventory using the gross profit method. Sales $819,000 Estimated gross profit rate 45% $56,800 Beginning inventory Purchases (net) 596,400 Merchandise available for sale $653,200

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