Question
Link Company is preparing their financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $40,000; beginning
Link Company is preparing their financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $40,000; beginning inventory of $6,000 and purchases of $30,000. The estimated amount of ending inventory would be:
A. 24,000
B. 16,000
C. 12,000
D. 14,000
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Japanese Management Accounting Today Japanese Management And International Studies Volume 2
Authors: Masanobu Kosuga, Yasuhiro Monden, Shufuku Hiraoka, Yoshiyuki Nagasaka, Noriko Hoshi
1st Edition
9812700811, 978-9812700810
