Question
On January 1, 2017, the merchandise inventory ofCrane, Inc. was $2150000. During 2017Cranepurchased $4289000of merchandise and recorded sales of $5100000. The gross profit rate on
On January 1, 2017, the merchandise inventory ofCrane, Inc. was $2150000. During 2017Cranepurchased $4289000of merchandise and recorded sales of $5100000. The gross profit rate on these sales was25%. What is the merchandise inventory ofCraneat December 31, 2017?
A $1,275,000.00 B $811,000.00 C $2,614,000.00 D $3,825,000.00
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Essentials Of Accounting
Authors: Leslie Breitner, Robert Anthony
11th Edition
0132744376, 978-0132744379
