Question
Stevens Company started the year with an inventory cost of $145,000. During the month of January, Stevens purchased inventory that cost $53,000. January sales totaled
Stevens Company started the year with an inventory cost of $145,000. During the month of January, Stevens purchased inventory that cost $53,000. January sales totaled $140,000. Estimated gross profit is 35%. The estimated ending inventory as of January 31 is
a. $107,000
b. $58,000
c. $91,000
d. $69,300
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Financial Accounting Cases
Authors: Camillo Lento, Jo-Anne Ryan
3rd Canadian Edition
1119594642, 978-1119594642
