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Big Box Store has operated with a 30% average gross profit ratio for a number of years. It had $102,000 in net sales during the

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Big Box Store has operated with a 30% average gross profit ratio for a number of years. It had $102,000 in net sales during the second quarter of this year. If it began the quarter with $18,200 of inventory at cost and purchased $72,200 of inventory during the quarter, its estimated ending inventory by the gross profit method is: Multiple Choice $30,600. $21,420. $19,000. $18,200. $27,600

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