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Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 30% gross profit is realized on sales and net sales are $115,060. Units purchased unit 41 $860 22 $1,750 $965 $14,475 $480 $13,920 Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory 15 29 107 80 27 Cost per Total Retail price Total retail cost per unit $35,260 $38,500 The estimated cost of goods sold is $ $975 $2,115 $1,996 $610 value $39,975 $46,530 $29,940 $17,690 $134,135

Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 30% gross profit is realized on sales and net sales are $115,060. Units purchased unit 41 $860 22 $1,750 $965 $14,475 $480 $13,920 Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory 15 29 107 80 27 Cost per Total Retail price Total retail cost per unit $35,260 $38,500 The estimated cost of goods sold is $ $975 $2,115 $1,996 $610 value $39,975 $46,530 $29,940 $17,690 $134,135

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 30% gross profit is realized on sales and net sales are $115,060. Units Cost per Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory Total cost $35,260 $1,750 $38,500 $965 $14,475 $480 $13,920 purchased unit 41 $860 22 15 29 107 80 27 The estimated cost of goods sold is $ Retail price Total retail per unit $975 $2,115 $1,996 $610 value $39,975 $46,530 $29,940 $17,690 $134,135
Transcribed Image Text:Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 30% gross profit is realized on sales and net sales are $115,060. Units Cost per Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory Total cost $35,260 $1,750 $38,500 $965 $14,475 $480 $13,920 purchased unit 41 $860 22 15 29 107 80 27 The estimated cost of goods sold is $ Retail price Total retail per unit $975 $2,115 $1,996 $610 value $39,975 $46,530 $29,940 $17,690 $134,135
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