Question
Russ Company earned gross margin at a 40% rate on its net sales of $250,000 in 2012. If the cost of the goods available for
Russ Company earned gross margin at a 40% rate on its net sales of $250,000 in 2012. If the cost of the goods available for sale was $200,000, the companys ending inventory must have been:
- $100,000
- $250,000
- $200,000
- $50,000
Please do not copy from Chegg. Only attempt if you are sure about the answer. Solve in a step by step manner, explaining each step.
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Accounting And Financial System Reform In A Transition Economy A Case Study Of Russia
Authors: Robert W. McGee, Galina G. Preobragenskaya
4th Edition
0387238476, 9780387238470
