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Company needs an estimate of its ending inventory balance. The following information is available: Cost Retail Sales revenue Beginning inventory Net purchases Gross margin percentage

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Company needs an estimate of its ending inventory balance. The following information is available: Cost Retail Sales revenue Beginning inventory Net purchases Gross margin percentage $180,000 62,000 100,000 135, 000 35,000 30% Given this information, when using the gross margin estimation method, ending inventory is approximately a. $1,000. b. $9,000. c. $19,000. d. $11,650

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