Question
Company has sales revenue of $130,000 for the year. The gross margin percentage for this year was 20%. Company had beginning inventory of $10,000 and
Company has sales revenue of $130,000 for the year. The gross margin percentage for this year was 20%. Company had beginning inventory of $10,000 and had inventory purchasesduring the year of $110,000
What is the amount of ending inventory?
Round any answer to the nearest dollar.
Step by Step Solution
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Step: 1
To calculate the amount of ending inventory we need to consider the cos...
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
