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For Calendar 2017, Cost of Goods Available for Sale for Janus

Question 60

Multiple Choice

For calendar 2017, cost of goods available for sale for Janus Corp.was $820,000.The average gross profit rate was 30%.Sales for the year were $600,000.What is the estimated dollar value of the inventory at December 31?


A) $400,000
B) $420,000
C) $328,000
D) $88,000

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