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Gledhill Products had net sales of $700,000 during the year. Their cost of goods available for sale during the year was $600,000. If the company's

Gledhill Products had net sales of $700,000 during the year. Their cost of goods available for sale during the year was $600,000. If the company's products have an average gross profit of 25 percent, calculate the estimated cost of ending inventory, using the gross profit method. a. $525,000 c. $ 75,000 b. $125,000 d. $100,000

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