If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise

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If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory on June 30,

June 1 Merchandise Inv………………$75,000

June 1–30 Purchases (net)…………….$150,000

June 1-30 Sales (net)…………………..$135,000

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: May 25, 2018 01:10 AM

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If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise

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Sales 135000 Gross Profit 30 Gross Profit 13500030 40500 ... View the full answer

Intermediate Accounting

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