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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 $ 4,200
Given the following, calculate the estimated cost of ending inventory using the gross profit method.
Gross profit on sales 55 % Net purchases $ 4,200
Beginning inventory $ 29,300 Net sales at retail $ 17,300
What is the estimated cost of ending inventory?
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