At May 31, Chang Dancewear has net sales of 330,000 and cost of goods available for sale

Question:

At May 31, Chang Dancewear has net sales of ¥330,000 and cost of goods available for sale of ¥230,000. Compute the estimated cost of the ending inventory, assuming the gross profit rate is 45%.

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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