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If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on September 30, based on the following data?

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If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on September 30, based on the following data? Sep. 01 Inventory $88,834.00 Sep. 01-30 Purchases (net) $195,082.00 Sep. 01-30 Sales (net) $126,257.00 Select the correct answer. $37,877.10 588,379.90 $58,524.60 $195,536.10

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