Question: Question 10 QUESTION 10 2.86 points Save Answer On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial

Question 10

QUESTION 10 2.86 points Save Answer On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: Beginning inventory, January 1: $4,000 Net sales: $80,000 Net purchases: $78,000 The company's gross profit ratio is 25%. Using the gross profit method, the estimated ending inventory value would be: O $22,000. $60,000. O $20,000. O $19,500. O $82,000

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