1 your client, Awesome Inc has asked you to help with valuing its closing inventorybelow details are from Trial Balance$154,300.00$18,780.00$119,325.00SalesOpening InventoryPurchasesAwesome generally has a gross profit of 25%

Name: 1 your client, Awesome Inc has asked you to help with valuing its clo
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Description: 1 your client, Awesome Inc has asked you to help with valuing its closing inventorybelow details are from Trial Balance$154,300.00$18,780.00$119,325.00SalesOpening InventoryPurchasesAwesome generally has a gross profit of 25%

Cost of goods sold = Sales - (Sales * Percentage of gross profit) Sales $154,300 Percentage of…

Answered: valuing its closing inventory

Business

Accounting

valuing its closing inventory

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section20.3: Estimating Inventory

Problem 1OYO

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1 your client, Awesome Inc has asked you to help with valuing its closing inventory below details are from Trial Balance Sales $154,300.00 Opening Inventory $18,780.00 Purchases $119,325.00 Awesome generally has a gross profit of 25%
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