Answered: If net sales are $300,000, cost of…

If net sales are $300,000, cost of goods available for sale is $280,000, and gross profit percentageis 35%, what is the amount of ending inventory?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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If net sales are $300,000, cost of goods available for sale is $280,000, and gross profit percentage
is 35%, what is the amount of ending inventory?

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