Question
Presented below is information related to Windsor 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 Windsor 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. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 46% of sales $ (b) Gross profit is 60% of cost $ (c) Gross profit is 32% of sales $ (d) Gross profit is 25% of cost
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