Question: E9.19 (LO 3) (Gross Profit Method) Presented below is information related to Jerrold Ltd. for the current year. 50 J Beginning inventory Purchases Total

E9.19 (LO 3) (Gross Profit Method) Presented below is information related to

E9.19 (LO 3) (Gross Profit Method) Presented below is information related to Jerrold Ltd. for the current year. 50 J Beginning inventory Purchases Total goods available for sale Sales O 810 LCNRV (enoillim at) 600,000 cholasval 1,500,000 2,100,000 2,300,000 Instructions Compute the ending inventory, assuming that (a) gross profit is 40% of sales, (b) gross profit is 60% of cost,

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