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Jefferson Company has sales of $311,000 and cost of goods available for sale of $271,100. If the gross profit ratio is typically 30%, the estimated

Jefferson Company has sales of $311,000 and cost of goods available for sale of $271,100. If the gross profit ratio is typically 30%, the estimated cost of the ending inventory under the gross profit method would be:

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  • 106,800

  • $53,400

  • $177,800

  • $39,900

  • $93,300

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