Owens Janitor Supply Has the Following Account Balances at the End

question 20

Multiple Choice

Owens Janitor Supply has the following account balances at the end of the current accounting period. A normal gross profit percent is 40%. What is the Estimated ending inventory as determined by the gross profit method?

• A)$150,000
• B)$50,000
• C)$200,000
• D)$300,000

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