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Use the Inventory Table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 56% gross profit
Use the Inventory Table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 56% gross profit on sales is realized and net sales are $1,424.56. The estimated cost of goods sold is $. (Round to the nearest cent as needed.) The estimated ending inventory is $. (Round to the nearest cent as needed.)
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