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Adams Consultancy Has the Following Account Balances at the End

Question 8

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Adams Consultancy has the following account balances at the end of the current accounting period. Adams Consultancy has the following account balances at the end of the current accounting period. The normal gross profit percent is 40%. What is the estimated ending inventory as determined by the gross profit method? A) $190,000 B) $415,000 C) $196,000 D) $490,000 The normal gross profit percent is 40%. What is the estimated ending inventory as determined by the gross profit method?


A) $190,000
B) $415,000
C) $196,000
D) $490,000

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