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Exercise 9-19 Presented below is information related to Flint Corporation for the current year. Beginning inventory Purchases $ 600,900 1.523.000 Total goods avalable for sale $2,123,900 Sales revenue 2,435,000 Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to o decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 45% of sales (b) Gross profit is 60% of cost (e) Gross profit is 36% of sales l (d) Gross profit is 25% of cost l

Exercise 9-19 Presented below is information related to Flint Corporation for the current year. Beginning inventory Purchases $ 600,900 1.523.000 Total goods avalable for sale $2,123,900 Sales revenue 2,435,000 Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to o decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 45% of sales (b) Gross profit is 60% of cost (e) Gross profit is 36% of sales l (d) Gross profit is 25% of cost l

Accounting
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 6.36EX: Cost of merchandise sold and related items The following data were extracted from the accounting...
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Exercise 9-19 Presented below is information related to Flint Corporation for the current year. Beginning inventory $ 600,900 Purchases 1,523,000 Total goods available for sale $2,123,900 Sales revenue 2,435,000 Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 45% of sales (b) Gross profit is 60% of cost (c) Gross profit is 36% of sales (d) Gross profit is 25% of cost
Transcribed Image Text:Exercise 9-19 Presented below is information related to Flint Corporation for the current year. Beginning inventory $ 600,900 Purchases 1,523,000 Total goods available for sale $2,123,900 Sales revenue 2,435,000 Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 45% of sales (b) Gross profit is 60% of cost (c) Gross profit is 36% of sales (d) Gross profit is 25% of cost
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