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Compute the ending inventory

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Problem - Presented below is information related to Indigo Corporation for the current year.

Beginning inventory

$607,400

Purchases

1,475,500

Total goods available for sale

$2,082,900

Sales revenue

2,585,000

Required - Compute the ending inventory, assuming that

(i) Gross profit is 48% of sales,

(ii) Gross profit is 60% of cost,

(iii) Gross profit is 38% of sales, and

(iv) Gross profit is 25% of cost.

Reference no: EM132450475

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