Susan Florists Had the Following Account Balances at the End

question 70

Multiple Choice

Susan Florists had the following account balances at the end of the current accounting period: A normal gross profit percent is 30%. What is the estimated ending inventory as per the gross profit method?

• A)$100,890
• B)$28,110
• C)$63,410
• D)$65,590

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Definitions:

Unlimited Consumption

The action of consuming something without limits or restrictions.

Primary Source

A document or physical object which was created during the time under study.

Full-Fat Dairy

Dairy products made from milk with its natural fat content, as opposed to being skimmed or partially skimmed.

Nutrient-Dense Foods

Foods that have a high amount of nutrients but relatively few calories, emphasizing the quality of the nutrients they contain.