Question: Estimating Inventory Using Gross Profit Method Lin Co . sells its merchandise at a gross profit of 3 0 % on sales. The following amounts

Estimating Inventory Using Gross Profit Method
Lin Co. sells its merchandise at a gross profit of 30% on sales. The following amounts pertain to Lin's operations for the six months ended June 30. On June 30, Lin's inventory was destroyed by fire.
\table[[Sales,$320,000
Estimating Inventory Using Gross Profit Method

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