Question: A company needs to estimate its ending inventory . Using the data below, compute The Companys estimated cost of ending inventory for the month of

A company needs to estimate its . Using the data below, computeThe Company’s estimated cost of for the month of April. Explain how you reached your answer.
Beginning inventory May 1 ........ $ 2,000
Purchases for May ........... 12,000
Retail sales during May ......... 13,000
Normal gross profit average............................... 40%

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