Question: Gross profit method. Based on the following Gross profit method Based on the following data, estimate the cost of the ending inventory: Sales Estimated gross

Gross profit method. Based on the following

Gross profit method Based on the following data, estimate the cost of the ending inventory: Sales Estimated gross profit rate Beginning inventory purchases (net) Merchandise available for sale Estimated Cost of Ending Inventory Line Item Description Amount $CZ3 $9,250,000 36% $180,000 5,945,000 $6,125,000

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