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Presented below is information related to Aaron Rodgers Corporation for the current year. Beginning inventory 600,000 Purchases 1,500,000 Total goods available for sale 2,100,000 Sales
Presented below is information related to Aaron Rodgers Corporation for the current year.
Beginning inventory 600,000
Purchases 1,500,000
Total goods available for sale 2,100,000
Sales revenue 2,500,000
Compute the ending inventory, assuming that (a) gross profit 45% of sales; (b) gross profit is 60% of cost; (c) gross profit is 35% of sales; (d) gross profit is 25% of cost. Round ratios for computational purposes to 1 decimal place.
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