A Retail Store Has Beginning Inventory of $30,000,purchases of $220,000,sales

question 77

Multiple Choice

A retail store has beginning inventory of $30,000,purchases of $220,000,sales of $200,000,and a normal gross margin of 25 percent.What is estimated inventory based on these facts and the gross profit method?

• A)$50,000
• B)$150,000
• C)$100,000
• D)$200,000

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