Hudson Company needs an estimate of its ending inventory balance. The following information is available. Cost Retail
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Question:
Hudson Company needs an estimate of its ending inventory balance. The following information is available.
Cost Retail
Sales Revenue $180.000
Beginning inventory $35.000 $62.000
Net Purchases $100.000 $135.000
Gross margin percentage 30%
Given this information, when using the gross margin estimation method, ending inventory is approximately?
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