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Presented below is information related to Aaron Rodgers Corporation for the current year. Beginning inventory $ 616,300 Purchases 1,503,800 Total goods available for sale $2,120,100
Presented below is information related to Aaron Rodgers Corporation for the current year.
Beginning inventory $ 616,300 Purchases 1,503,800 Total goods available for sale $2,120,100 Sales revenue 2,365,000 Compute the ending inventory, assuming that (a) gross profit is 45% of sales; (b) gross profit is 60% of cost; (c) gross profit is 30% of sales; and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.) (a) Gross profit is 45% of sales $ (b) Gross profit is 60% of cost $ (c) Gross profit is 30% of sales $ (d) Gross profit is 25% of cost $Step by Step Solution
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