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
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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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
