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Bathworks Company wants to estimate its ending inventory based on the following data: beginning inventory of $70,000, net sales revenue of $195,000, purchases of $140,000,
"Bathworks Company wants to estimate its ending inventory based on the following data: beginning inventory of $70,000, net sales revenue of $195,000, purchases of $140,000, and a normal gross margin percent of 40%. Ending inventory is equal to:"
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In order to estimate the ending inventory by using the gross margin method we must first find the co...
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