Fargone Products began its fiscal year with $38,000 in inventory at cost and purchased $65,000 of goods

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Fargone Products began its fiscal year with $38,000 in inventory at cost and purchased $65,000 of goods during the year. Net sales for the year totalled $150,000. Assuming the company has operated with a 35% average gross profit ratio for a number of years, what is the estimated ending inventory using the gross profit method? Select one: O A $103,000 OB. $50,500 OC. $150,000 O D. $5,500 Clear my choice

Posted Date: Jul 11, 2024 03:22 AM

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Fargone Products began its fiscal year with $38,000 in inventory at cost and purchased $65,000 of goods

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