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Bulk Wholesalers took in $377,800 in sales during July. They started the month with inventory worth $173,800 and spent $299,900 on new purchases during the
Bulk Wholesalers took in $377,800 in sales during July. They started the month with inventory worth $173,800 and spent $299,900 on new purchases during the month. Gross margin on sales was 76%. Using the gross profit method, estimate the cost value of the inventory at the end of July.
a. $90.672
b.$383,028
c.$473,700
d.$299,900
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