Question: Wholesale Granite began the year with inventory of 52 800 and

Wholesale Granite began the year with inventory of $52,800 and made purchases of $318,000 during the year. Sales for the year are $504,100, and Wholesale Granite’s gross profit percentage is 41% of sales.

Compute Wholesale Granite’s estimated cost of ending inventory using the gross profit method.


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  • CreatedApril 29, 2014
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