Multiple Choice
A retail store has beginning inventory of $30,000,purchases of $220,000,sales of $200,000,and a normal gross margin of 25 percent.What is estimated inventory based on these facts and the gross profit method?
A) $50,000
B) $150,000
C) $100,000
D) $200,000
Correct Answer:
Verified
Correct Answer:
Verified
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