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Presented below is information related to Oriole Corporation for the current year. Beginning inventory $ 596,100 Purchases 1,505,300 Total goods available for sale $2,101,400 Sales
Presented below is information related to Oriole Corporation for the current year. Beginning inventory $ 596,100 Purchases 1,505,300 Total goods available for sale $2,101,400 Sales revenue 2,500,000 Compute the ending inventory, assuming that (a) gross profit is 46% of sales, (b) gross profit is 60% of cost, (c) gross profit is 32% of sales, and (d) gross profit is 25% of cost.
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