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Presented below is information related to Indigo Corporation for the current year. Beginning inventory $607,400 Purchases 1,475,500 Total goods available for sale $2,082,900 Sales revenue
Presented below is information related to Indigo Corporation for the current year.
Beginning inventory | $607,400 |
Purchases | 1,475,500 |
Total goods available for sale | $2,082,900 |
Sales revenue | 2,585,000 |
Compute the ending inventory, assuming that (a) gross profit is48% of sales, (b) gross profit is60% of cost, (c) gross profit is38% of sales, and (d) gross profit is25% 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.)
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