Question: Incorrect Question 12 0 / 4 pts If the estimated rate of gross profit is 40%, what is the estimated cost of the merchandise inventory

Incorrect Question 12 0 / 4 pts If the estimated rate

Incorrect Question 12 0 / 4 pts If the estimated rate of gross profit is 40%, what is the estimated cost of the merchandise inventory on June 30, based on the following data? June 1 Merchandise inventory June 1-30 Purchases (net) June 1-30 Sales (net) $ 75,000 150,000 200,000 $ 165,000 $144,000 $125,000 $105,000

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