Question: Estimating Inventory Using Gross Profit Method last year was 25% of net sales; we anticipate that it will be 25% for the current year under

Estimating Inventory Using Gross Profit Method last year was 25% of

Estimating Inventory Using Gross Profit Method last year was 25% of net sales; we anticipate that it will be 25% for the current year under audit. Required Estimate the cost of ending inventory using the gross profit method. - Note: Do not use negative signs with your answers

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