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v2.ceng xam Chapter 5-6 Calculator Gross Profit Method Based on the following data, estimate the cost of the ending merchandise inventory: Sales (net) Estimated gross

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v2.ceng xam Chapter 5-6 Calculator Gross Profit Method Based on the following data, estimate the cost of the ending merchandise inventory: Sales (net) Estimated gross profit rate Beginning merchandise inventory Purchases (net) Merchandise available for sale $1,000,000 40% $602,000 61,000 $663,000

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