Question: Estimating Inventory Using Gross Profit Method The following data are available from a company for the current year. Sales revenue $288,000 Beginning inventory 38,400 Purchases

Estimating Inventory Using Gross Profit Method The following data are available from a company for the current year. Sales revenue $288,000 Beginning inventory 38,400 Purchases 192,000 Required For each separate case a through e, estimate ending inventory. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. a. Markup is 33.3% on cost. Answer 0 b. Markup is 60% on sales. Answer 0 c. Markup is 25% on cost. Answer 0 d. Markup is 40% on sales. Answer 0 e. Markup is 37% on cost. Answer 0

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