Presented below is information related to Isaac Corporation for the current year.

Instructions
Compute the ending inventory, assuming that
(a) Gross profit is 25% of sales;
(b) Gross profit is 50% of cost;
(c) Gross profit is 40% of sales;
(d) Gross profit is 25% ofcost.

Transcribed Image Text:

Beginning inventory Purchases $ 400,000 2,600,000 Total goods available for sale Sales $3,000,000 3,500,000