Country Guides Inc The Estimated Ending Inventory for the Second Quarter Is:
A)$30,250

question 57

Multiple Choice

Country Guides Inc.uses the gross margin method to estimate its ending inventory for each quarter.The following information for the second quarter was provided from the records: $\begin{array} { l } \text {Sales revenue. }&\$200,000\\ \text {Purchases. }&47,500\\ \text { Freight-in.}&1,400\\ \text {Beginning inventory. }&14,250\\ \text {Purchase returns. }&900\\ \text {Estimated gross margin rate }&72 percent\\\end{array}$
The estimated ending inventory for the second quarter is:

---

Definitions:

Environmental Conditions

External factors that affect living organisms, including natural elements like climate and human-made changes.

Genes

Units of heredity made up of DNA that carry information for the development, functioning, and reproduction of organisms.

Active

Engaged in movement or participation; not passive.

Inactive

Not engaging in physical activity or not currently in operation.