A company had a gross profit rate of 35% and sales of $155,000. The company began the

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A company had a gross profit rate of 35% and sales of $155,000. The company began the year with $24,300 in inventory and purchased $152,750 of inventory during the year.

What is the balance of inventory at the end of the year?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Aug 16, 2023 02:30 AM

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A company had a gross profit rate of 35% and sales of $155,000. The company began the

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To calculate the ending inventory you can use the formula Ending Inventory Beginning Inve... View the full answer

Income Tax Fundamentals 2013

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