In a fire on February 10, 2017, all of Blue Company's goods were burned. Below is the
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In a fire on February 10, 2017, all of Blue Company's goods were burned. Below is the information compiled up to the date of the fire.
Stock, January 1, 2017 $436,700
Revenues - February 10, 2017 1,916,100
Purchases - February 10, 2017 1,097,330
Freight - February 10, 2017 61,360
Gross profit on selling price 25%
What is the approximate inventory on February 10, 2017 ?
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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