Please do not give solution in image format thanku A clock shop sells beautiful clocks for $140 each. In 2020he produced 40,000 watches and sold 37,000.Other information about the operation is as follows:Direct contentDirect salaryVariable costSales commissionFixed productioncostFixed administrativecosts$45 per pc$9 per pc$4.5 perpc$12.5 perpc$64.5 perpc$39,9What is the inventory cost in $ using the gross marginmethod?

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Description: Please do not give solution in image format thanku A clock shop sells beautiful clocks for $140 each. In 2020he produced 40,000 watches and sold 37,000.Other information about the operation is as follows:Direct contentDirect salaryVariable costSales

The gross margin method is a technique used to estimate the cost of inventory based on the gross…

Answered: What is the inventory cost in $ using…

Business

Accounting

What is the inventory cost in $ using the gross margin method?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 1PB: Lens & Shades sells sunglasses for $37 each and is estimating sales of 21,000 units in January and...

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