If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory

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If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on September 30, based on the following data?

Sep 1. Inventory (at cost) $125,000

Sep. 130 Purchases, net (at cost) 300,000

Sep. 130 Sales 150,000

a. $275,000 b. $320,000 c. $105,000 d. $192,500

Posted Date: May 18, 2024 02:08 PM

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If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory

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