If net sales are $360,000, cost of goods available for sale is $286,000, and gross profit percentage

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If net sales are $360,000, cost of goods available for sale is $286,000, and gross profit percentage is 35%. What is the amount of ending inventory?
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
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Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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