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Current Attempt in Progress Cullumber Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below information for the month of

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Current Attempt in Progress Cullumber Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below information for the month of May. (a) Compute the estimated inventory at May 31 , assuming that the gross profit is 25% of net sales. The estimated inventory at May 31

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