Multiple Choice
On September 30, Stark Company needed to estimate its ending inventory in order to prepare its third-quarter financial statementsInventory, July 1Third quarter net salesThird quarter net purchases: $17,500Stark's gross profit ratio is 15%. Estimated cost of goods sold would be:
A) $6,000.
B) $36,000.
C) $40,000.
D) $34,000.
E) $57,500.
Correct Answer:
Verified
Correct Answer:
Verified
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