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In 2018, Martina Corporation started operations with an inventory costing $200,000. For the first quarter of 2018, the purchases were $50,000, $380,000, and $704,000 for
In 2018, Martina Corporation started operations with an inventory costing $200,000. For the first quarter of 2018, the purchases were $50,000, $380,000, and $704,000 for January, February and March, respectively. The sales were $240,000 for January, $510,000 for February and $755,000 for March. Goods are sold at a gross profit of 40%. For interim statement purposes, the inventory at the end of January, February, and March, respectively are?
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