Multiple Choice
During the month of January,Sundown Corporation had sales of $300,000 and a cost of goods available for sale of $600,000.The company consistently earns a gross profit rate of 45%.Using the gross profit method,the estimated inventory at January 31 amounts to:
A) $135,000.
B) $435,000.
C) $165,000.
D) $465,000.
Correct Answer:
Verified
Correct Answer:
Verified
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