Based on the Following Data,determine the Approximate Valuation of Ending \begin{array} { l } \text { Cost of goods available for sale. }&\$400\\ \text {Net sales. }&600\\end{array}

question 66

Essay

Based on the following data,determine the approximate valuation of ending inventory in each case given below: \begin{array} { l } \text { Cost of goods available for sale. }&\$400\\ \text {Net sales. }&600\\end{array}
Case A-Gross margin rate on sales = 40 percent:
Inventory valuation is $________________________ Case B-Gross margin rate on cost = 100 percent:
Inventory valuation is $________________________

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