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Question - Miller, Ltd. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The gross profit percentage is 20%. The following account balances are available:
Inventory, March 1 Purchases Sales during March
$220,000 164,000 350,000
What is estimate of the cost of inventory reported on the statement of financial position as at March 31?
What are the total return, the current yield, and the capital gains yield for the discount bond in Question #3 at $887.00? At $1,134.20? (Assume the bond is held to maturity
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