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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
النسخة 3الرقم المعياري الدولي: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
النسخة 3الرقم المعياري الدولي: 978-0132962339 تمرين 33
Estimating ending inventory by the gross profit method
Glass Company began the year with inventory of $42,450 and purchased $263,000 of goods during the year. Sales for the year are $501,000, and Glass's gross profit percentage is 55% of sales.
Requirement
1. Compute the estimated cost of ending inventory by the gross profit method.
Glass Company began the year with inventory of $42,450 and purchased $263,000 of goods during the year. Sales for the year are $501,000, and Glass's gross profit percentage is 55% of sales.
Requirement
1. Compute the estimated cost of ending inventory by the gross profit method.
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This exercise requires application of th...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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