Exhibit 8-2
The Dormer Company uses the gross profit method to estimate its inventory in interim financial statements. The markup on cost is 50%. The following information is available:
-Refer to Exhibit 8-2. The estimated cost of goods sold at January 31, 2016, is

Question

Exhibit 8-2
The Dormer Company uses the gross profit method to estimate its inventory in interim financial statements. The markup on cost is 50%. The following information is available: 
-Refer to Exhibit 8-2. The estimated cost of goods sold at January 31, 2016, is

Quizplus · Accepted Answer

The correct answer is $16,000, which is the estimated cost of goods sold at January 31, 2016, as per the information provided in Exhibit 8-2.

Exhibit 8-2 The Dormer Company Uses the Gross Profit Method to Estimate