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When Preparing Its Quarterly Financial Statements,Pace Co

Question 87

Multiple Choice

When preparing its quarterly financial statements,Pace Co.uses the gross margin method to estimate ending inventory.The following information is available for the 1st quarter of 2016:
What was Pace's estimated inventory on March 31,2016?


A) $236,250
B) $288,750
C) $206,250
D) $258,750

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