Gross Profit Method Presented below is information related to Jerrold Corporation for the current year. Compute the ending inventory, assuming that

(a) Gross profit is 40% of sales;

(b) Gross profit is 60% of cost;

(c) Gross profit is 35% of sales; and

(d) Gross profit is 25% ofcost.

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Beginning inventory Purchases Total goods available for sale 1,500,000 $2,100,000 Sales 2,300,000