Question
Corporation K reports the following for its first quarter ended March 31, 2022. Inventory, January 1, 2022 $750,000 Purchases 3,100,000 Freight-in 300,000 Sales 4,600,000 The
Corporation K reports the following for its first quarter ended March 31, 2022.
| Inventory, January 1, 2022 | $750,000 | |
| Purchases | 3,100,000 | |
| Freight-in | 300,000 | |
| Sales | 4,600,000 |
The gross margin recorded was 20% of sales. What should be the inventory at March 31, 2022?
- A.
$1,100,000
- B.
$470,000
- C.
$900,000
- D.
$1,025,000
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Handbook Of Energy Audits
Authors: Albert Thumann, Terry Niehus, William J. Younger
9th Edition
1466561629, 978-1466561625
