Question: I need help in this problem Based on the following data, estimate the cost of ending merchandise inventory using the gross profit method. Sales (net)

I need help in this problem I need help in this problem Based on the following data, estimate

Based on the following data, estimate the cost of ending merchandise inventory using the gross profit method. Sales (net) $837,000 Estimated gross profit rate 45% Beginning merchandise inventory Purchases (net) Merchandise available for sale $58,100 609,400 $667,500

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