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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

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

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