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Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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
Transcribed Image Text:Songbird Company has sales of $150,000
and the cost of goods available for sale
of $135,000. If the gross profit rate is
30%, the estimated cost of the ending
inventory under the gross profit method
is:
a. $15,000
b. $30,000
c. $90,000
d. $105,000
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- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning

Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning