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Keen Company's Accounting Records Indicated the Following Information: a Physical

Question 93

Multiple Choice

Keen Company's accounting records indicated the following information: Keen Company's accounting records indicated the following information: A physical inventory taken on December 31, 2010, resulted in an ending inventory of $700,000.Keen's gross profit on sales has remained constant at 25% in recent years.Keen suspects some inventory may have been taken by a new employee.At December 31, 2010, what is the estimated cost of missing inventory? A) $50,000. B) $150,000. C) $200,000. D) $250,000. A physical inventory taken on December 31, 2010, resulted in an ending inventory of $700,000.Keen's gross profit on sales has remained constant at 25% in recent years.Keen suspects some inventory may have been taken by a new employee.At December 31, 2010, what is the estimated cost of missing inventory?


A) $50,000.
B) $150,000.
C) $200,000.
D) $250,000.

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