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Magic carpets began the year with inventory of $1,4000,000. Inventory purchases for the year totalled $3,200,000. Sales revenue for the year was $7,000,000 and the
Magic carpets began the year with inventory of $1,4000,000. Inventory purchases for the year totalled $3,200,000. Sales revenue for the year was $7,000,000 and the gross margin wag 45 percent. How much is Magic carpets estimation cost ending inventory? using gross margin method
please help me
the estimated cost of ending inventory is $750,000
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