Stevens company started the year with an inventory cost of, Accounting Basics

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Stevens company started the year with an inventory cost of

Problem

Stevens Company started the year with an inventory cost of $145,000. During the month of January, Stevens purchased inventory that cost $53,000. January sales totaled $140,000. Estimated gross profit is 35%. What is the estimated ending inventory as of January 31?

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Accounting Basics: Stevens company started the year with an inventory cost of

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Accounting Basics: Stevens company started the year with an inventory cost of

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