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Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $140,000; beginning
Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $140,000; beginning inventory of $14,000 and purchases of $98,000. What is the estimated amount of ending inventory at the end of the period?
a) 28000 b)84000 c)56000 d)44800
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