Multiple Choice
Chewy Candy has a beginning inventory of $1,000.June purchases were $3,000,and retail sales were $5,000.The store has a normal gross profit of 50%.What is the June 30 estimated ending inventory at cost under the gross profit method?
A) $2,100
B) $2,000
C) $1,700
D) $1,500
Correct Answer:
Verified
Correct Answer:
Verified
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