Multiple Choice
Landis Company is preparing its financial statements.Gross margin is normally 40% of sales.Information taken from the company's records revealed sales of $25,000;beginning inventory of $2,500 and purchases of $17,500.What is the estimated amount of ending inventory at the end of the period?
A) $15,000
B) $5,000
C) $8,000
D) $10,000
Correct Answer:
Verified
Correct Answer:
Verified
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