Question
The following information is from the 2016 accounting records of Oregon Company: Sales revenue $625,000 Beginning inventory (1/1/2016) $254,000 Purchases $366,000 Historical gross margin ratio
The following information is from the 2016 accounting records of Oregon Company: Sales revenue $625,000 Beginning inventory (1/1/2016) $254,000 Purchases $366,000 Historical gross margin ratio 45% What is the estimated cost of Oregon Companys 2016 ending inventory using the gross margin method?
$164,700
$276,250
$281,250
$343,750
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Company Accounting
Authors: Ken Leo, Jeffrey Knapp, Susan Mcgowan, John Sweeting, Leah Meng
12th Edition
0730382672, 9780730382676
