Bulk Wholesalers took in $377,800 in sales during July. They started the month with inventory worth $173,800 and spent $299,900 on new purchases during the month. Gross margin on sales was 76%. Using the gross profit method, estimate the cost value of the inventory at the end of July.

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The Answer of Bulk Wholesalers took in $377,800 in sales during July. They started the month with inventory worth $173,800 and spent $299,900 on new purchases during the month. Gross margin on sales was 76%. Using the gross profit method, estimate the cost value of the inventory at the end of July.

Bulk Wholesalers Took in $377,800 in Sales During July