Multiple Choice
Landis Company is preparing its financial statements.Gross margin is normally 40% of sales.Information taken from the company's records revealed sales of $25,000;beginning inventory of $2,500 and purchases of $17,500.The estimated amount of ending inventory would be:
A) $15,000.
B) $5,000.
C) $8,000.
D) $10,000.
Correct Answer:
Verified
Correct Answer:
Verified
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