Essay
At December 31, 2010, Johnson, Inc.had inventory on hand amounting to $270, 000.The following items were not included in this inventory:
Johnson sells at a gross profit of 25% on cost.
Required:
Compute the cost of ending inventory to be reported on the December 31, 2010, balance sheet.
Correct Answer:
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$270, 000 + $9, 600*...View Answer
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Correct Answer:
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