joslyn9425 joslyn9425

04-01-2023
Business

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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 margin ratio is 25%. Using the gross profit method, the estimated ending inventory value would be:.

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