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Presented below is information related to Flint Corporation for the current year. Beginning inventory $589,900 Purchases 1.483.300 Total goods available for sale $2,073,200 Sales revenue
Presented below is information related to Flint Corporation for the current year. Beginning inventory $589,900 Purchases 1.483.300 Total goods available for sale $2,073,200 Sales revenue 2.400.000 Compute the ending inventory, assuming that (2) gross proft is 44% of sales. (b) gross profit is 60% of cost. (c) gross profit is 38% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, es 78.7% and final answers to decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 44% of sales 1056000 (b) Gross profit is 60% of cost $ 900000 (c) Gross proftis 38% of sales $ 912000 (d) Gross profit is 25% of cost $ 480000
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