Solution-Compute the estimated cost of inventory at november

Compute the estimated cost of inventory at november

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Reference no: EM132110472

Question - Energy Solutions Corporation estimates the cost of its physical inventory at November 30 for use in an interim financial statement. Management uses a gross profit rate on sales of 40%. The following information is available:

Inventory, November 1 - $500,000

Purchases during November - $650,000

Sales during November - $900,000

Compute the estimated cost of inventory at November 30?

$360,000

$540,000

$610,000

$650,000

Reference no: EM132110472

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Compute the estimated cost of inventory at november

Reference no: EM132110472

Reference no: EM132110472

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