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Calculate the estimated cost of ending inventory

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Question - Gledhill Products had net sales of $700,000 during the year.  Their cost of goods available for sale during the year was $600,000. If the company's products have an average gross profit of 25 percent, calculate the estimated cost of ending inventory, using the gross profit method.

a. $525,000

?b. $125,000

?c. $75,000

d. $100,000

Reference no: EM132681206

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