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Q21 Calculator Based upon the following data, estimate the cost of ending inventory using the gross profit method. Sales $678,000 Estimated gross profit rate 36%

Q21

Calculator Based upon the following data, estimate the cost of ending inventory using the gross profit method. Sales $678,000 Estimated gross profit rate 36% Beginning inventory $54,700 Purchases (net) 574,500 Merchandise available for sale $629,200

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