The following data are for Tina's Candle Store for January, 2019: Beginning inventory $115,000 /Net sales revenue

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The following data are for Tina's Candle Store for January, 2019: Beginning inventory $115,000 /Net sales revenue $425,000 /Net purchases $615,000 /Normal gross profit rate 30%. What is the company's estimated ending inventory for the month?

Select one:

a. $184,500

b. $224,500

c. $432,500

d. $297,500

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Apr 16, 2020 07:57 AM

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The following data are for Tina's Candle Store for January, 2019: Beginning inventory $115,000 /Net sales revenue

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Expert Answer:

Answer c 432500 Explanation here beginning inventor... View the full answer

Intermediate Accounting

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