On January 1, 2010, the merchandise inventory of Morton, Ltd.was $1.2 million.During 2010 Morton purchased $2,300,000 of merchandise and recorded sales of $2.7 million.The gross profit rate on these sales was 35%.
What is the merchandise inventory of Morton at December 31, 2010?
A)$1,125,000.
B)$1,745,000.
C)$1,765,000.
D)$945,000.

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The Answer of On January 1, 2010, the merchandise inventory of Morton, Ltd.was $1.2 million.During 2010 Morton purchased $2,300,000 of merchandise and recorded sales of $2.7 million.The gross profit rate on these sales was 35%.
What is the merchandise inventory of Morton at December 31, 2010?
A)$1,125,000.
B)$1,745,000.
C)$1,765,000.
D)$945,000.

On January 1, 2010, the Merchandise Inventory of Morton, Ltd