Question
The Doll Company estimates the cost of its physical inventory at March 31, 2012 for use in an interim financial statement. The rate of markup
The Doll Company estimates the cost of its physical inventory at March 31, 2012 for use in an interim financial statement. The rate of markup on sales is 20%. The following account balances are available:
| Inventory March 1, 2012 | $160,000 |
| Purchases during March | 86,000 |
| Purchase returns | 4,000 |
| Sales during March | 140,000 |
REQUIRED:
Estimate the cost of inventory at March 31.
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Word Search For Auditors And Accounting Professionals Puzzle Book Audit And Accounting Vocabulary For Adults And Teens
Authors: Drew Drew
1st Edition
B0B5KVJHVL, 979-8839390089
