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Given the following, calculate the estimated cost of ending inventory using the gross profit method. Gross profit on sales 55 % Net purchases $ 5,100
Given the following, calculate the estimated cost of ending inventory using the gross profit method.
| Gross profit on sales | 55 | % | Net purchases | $ | 5,100 | |
| Beginning inventory | $ | 30,200 | Net sales at retail | $ | 18,200 | |
Estimated cost of ending inventory $
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Fraud Examination Investigative And Audit Procedures
Authors: Joseph T. Wells
1st Edition
089930639X, 978-0899306391
