1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost. Sales at selling priceamount to €200,000. Compute the estimated inventory at 31/12/2020, assuming that the gross profit is 25% of sales b va-200UU- 2300001500002- Which of the following is a product cost as it relates to inventory?a Selling costs.b. Interest costs.C.Raw materials.d. Abnormal spoilage.

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Answered: 2- Which of the following is a product…

2- Which of the following is a product cost as it relates to inventory? a. Selling costs. b. Interest costs. C. Raw materials. d. Abnormal spoilage.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PEA: Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory...

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