Natisha Company on November 1, 202X, had inventory costing $32,000 and during November had net purchases of
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Natisha Company on November 1, 202X, had inventory costing $32,000 and during November had net purchases of $67,100. Over the years, Natisha Company’s gross profit averaged 44% on sales. Given that the company has net sales of $110,500, calculate an estimated cost of ending inventory using the gross profit method.
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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