Multiple Choice
For 2014, cost of goods available for sale for Tate Corporation was $2,700,000. The gross profit rate on sales was 20%. Sales for the year were $2,400,000. What was the amount of the ending inventory?
A) $0.
B) $780,000.
C) $540,000.
D) $480,000.
Correct Answer:
Verified
Correct Answer:
Verified
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