Using the gross profit method the estimated ending


The following data is available:

Net sales $16,000
Normal gross profit 45%
Beginning inventory 12,000
Net purchases 7,000

Using the gross profit method, the estimated ending inventory balance would be:

A. $5,850.

B. $7,150.

C. $10,200.

D. $15,000.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Using the gross profit method the estimated ending
Reference No:- TGS02557216

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)