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Presented below is information related to Novak Corporation for the current year. Beginning inventory $ 607,100 Purchases 1,484,500 Total goods available for sale $2,091,600 Sales

Presented below is information related to Novak Corporation for the current year.

Beginning inventory $ 607,100

Purchases 1,484,500

Total goods available for sale $2,091,600

Sales revenue 2,530,000 Compute the ending inventory, assuming that (a) gross profit is 49% of sales, (b) gross profit is 60% of cost, (c) gross profit is 37% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.) Ending Inventory

(a) Gross profit is 49% of sales $

(b) Gross profit is 60% of cost $

(c) Gross profit is 37% of sales $

(d) Gross profit is 25% of cost $


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