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On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: Beginning inventory,
| On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: |
| Beginning inventory, January 1: $5,700 |
| Net sales: $57,000 |
| Net purchases: $58,000 |
| The company's gross margin ratio is 15%. Using the gross profit method, the cost of goods sold would be: |
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Coffee Plus Math Equal To Audit
Authors: Marina Peters
1st Edition
B08BDSDFR6, 979-8654153418
