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Presented below is information related to Cullumber Corporation for the current year. Beginning inventory Purchases $594,100 1,523,500 Total goods available for sale Sales revenue $2,117,600
Presented below is information related to Cullumber Corporation for the current year. Beginning inventory Purchases $594,100 1,523,500 Total goods available for sale Sales revenue $2,117,600 2,490,000 Compute the ending inventory, assuming that (a) gross profit is 44% of sales, (b) gross profit is 60% of cost, (c) gross profit is 34% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, eg. 78.7% and final answers to 0 decimal places, eg. 28,987.) Ending Inventory (a) Gross profit is 44% of sales (b) Gross profit is 60% of cost (c) Gross profit is 34% of sales (d) Gross profit is 25% of cost Click if you would like to Show Work for this question: Open Show Work
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