Based on the following data estimate the cost of ending


1. Based on the following data, estimate the cost of ending merchandise inventory:

Sales (net) $1,500,000
Estimated gross profit rate 38%
Beginning merchandise inventory $ 80,000
Purchases (net) 948,000
Merchandise available for sale $1,028,000  

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Accounting Basics: Based on the following data estimate the cost of ending
Reference No:- TGS01509700

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