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Please help with the two. Thank you :) The After Five Boutique took in $749,200 in sales during May. They started the month with inventory
Please help with the two. Thank you :)
The After Five Boutique took in $749,200 in sales during May. They started the month with inventory worth $419,000 and spent $151,800 on new purchases during the month. Gross margin on sales was 40%. Using the gross profit method, estimate the cost value of the inventory at the end of June. O $121,280 O $131,280 O $363,840 O $727,680 Lucent Technology maintains a gross margin of 40% on all of its merchandise. In April the company had a beginning inventory of $518,700, net purchases of $318,400, and net sales of $752,400. Use the gross profit method to estimate the cost of ending inventory as of March 31. O $235,180 O $300,960 O $310,420 O $385,660Step by Step Solution
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