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Presented below is information related to Aaron Rodgers Corporation for the current year. Beginning inventory was $600,000. Purchases was 1,500,000. Sales revenue was 2,500,000. Required

Presented below is information related to Aaron Rodgers Corporation for the current year. Beginning inventory was $600,000. Purchases was 1,500,000. Sales revenue was 2,500,000. Required: Fill in the blanks to compute the ending inventory, assuming that gross profit is 45% of sales.

Beginning inventory (at cost)

________

Purchases (at cost)

________

Total goods available for sale (at cost)

________

Sales (at selling price)

________

Less: Gross profit (45% of sales)

________

Sales (at cost)

________

Ending inventory (at cost)

________

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