Multiple Choice
Video Company had sales during July 20X3 of $30,000.During the month,the company had purchases of $10,000.At July 1,20X3,the company had inventory of $10,000.Assuming the company has a gross profit percentage of 40%,what is the estimated ending inventory for Video Company at July 31,20X3?
A) $ 2,000
B) $ 16,000
C) $ 18,000
D) $ 20,000
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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