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A company estimates the cost of its physical inventory at Nov. 30 for use in an interim financial statement. Managemnt uses a gross profit rate on sales of 30%. The following information is available:Inventory Nov 1 $500.000
Pruchase During November $650,000
Sales during November $900,000
What is the estimated cost of inventory at November 30?
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Susan sweets is a 40 percent shareholder in acclaim inc. a theatrical supplies company. She transfers a fully depreciated car with a value of $2,000 to the corporation, dut does not receive any consideration for it.
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The concept of operating leverage Signifies to which of the following?
Identify at least two different accounting careers that you would like to pursue. What excites you about these careers?
which of the following principles require the application of the lower-of-cost-or-market rule? answer accounting
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