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here's my problem pls help me (Gross Profit Method) Each of the following gross profit percentages is expressed in terms of cost. 1. 20%. 3.

here's my problem pls help me

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(Gross Profit Method) Each of the following gross profit percentages is expressed in terms of cost. 1. 20%. 3. 33 /3%. 2. 25%. 4. 50%. Instructions Indicate the gross profit percentage in terms of sales for each of the above. (Gross Profit Method) Astaire Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 E 160,000 Purchases (gross) 640,000 Freight-in 30,000 Sales 1,000,000 Sales returns 70,000 Purchase discounts 12,000 Instructions (a) Compute the estimated inventory at May 31, assuming that the gross profit is 25% of sales. (b) Compute the estimated inventory at May 31, assuming that the gross profit is 25% of cost

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