Question: Using the information provided from the general ledger, calculate the estimated closing inventory using the gross profit method. From examination of prior years' financial statements,

Using the information provided from the general ledger, calculate the estimated closing inventory using the gross profit method. From examination of prior years' financial statements, you know that the gross profit margin is 40%.
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\table[[Sales,$290,000
Using the information provided from the general ledger, calculate the estimated

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