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A Company Has Cost of Goods Available for Sale of $250,000,sales

Question 124

Multiple Choice

A company has cost of goods available for sale of $250,000,sales of $305,000,and a gross profit percentage of 30 percent.Using the gross profit method,what is the ending inventory?


A) $95,000
B) $50,000
C) $36,500
D) $158,500

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