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Hard Candy Has a Beginning Inventory of $2,000

Question 51

Multiple Choice

Hard Candy has a beginning inventory of $2,000.June purchases were $6,000,and retail sales were $3,000.The store has a normal gross profit of 50%.What is the June 30 estimated ending inventory at cost under the gross profit method?


A) $6,100
B) $6,500
C) $6,700
D) $6,000

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