Use Inventory Table B and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 54 gross profit on sales is realized and net sales are $1,644 72 ...

Beginning inventory 9612 1152 Net purchases 2 ...

Use Inventory Table B and the gross profit inventory method to estimate the ending inventory and cost

Question:

Use Inventory Table B and the gross profit inventory method to estimate the and cost of goods sold if a 54% gross profit on sales is realized and net sales are $1,644.72.
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...