Songbird Company has sales of $150,000 and cost of goods available for sale of $135,000. If the
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Songbird Company has sales of $150,000 and cost of goods available for sale of $135,000. If the gross profit rate is 30%, the estimated cost of the ending inventory under the gross profit method is:
(a) $15,000.
(b) $30,000.
(c) $45,000.
(d) $75,000.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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