Question: Based upon the following data estimate the cost of ending merchandise

Based upon the following data, estimate the cost of ending merchandise inventory:
Sales (net) .............. $800,000
Estimated gross profit rate ....... 36%
Beginning merchandise inventory ..... $ 75,000
Purchases (net) ........... 625,000
Merchandise available for sale..... $700,000


View Solution:


Sale on SolutionInn
Sales0
Views233
Comments
  • CreatedJuly 17, 2012
  • Files Included
Post your question
5000