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K Assume Dollar Lieutenant Store estimates its inventory by the gross margin method when preparing monthly financial statements (it uses the periodic method otherwise). For
K Assume Dollar Lieutenant Store estimates its inventory by the gross margin method when preparing monthly financial statements (it uses the periodic method otherwise). For the past t that the company's inventory records for its stores reveal the following data: $460,000 Inventory: June 1, 2023 Transactions during June: Purchases Sales Required $4,810,000 $8,430,000
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