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Given the following information for Cybernet Company: Freight-in $ 400 Purchases 10,050 Sales returns 200 Beginning inventory 1,750 Sales 13,450 Gross profit on sales 40%
Given the following information for Cybernet Company: Freight-in $ 400 Purchases 10,050 Sales returns 200 Beginning inventory 1,750 Sales 13,450 Gross profit on sales 40% Calculate ending inventory of Cybernet using the gross profit method. a. $4,250 b. $4,075 c. $4,440 d. $4,520
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