Reference no: EM132768200
Question: Current Attempt in Progress
Presented below is information related to Ivanhoe Corporation for the current year.
Beginning inventory$ 606,900Purchases1,503,500Total goods available for sale$2,110,400Sales revenue2,585,000
Compute the ending inventory, assuming that
(a) gross profit is 46% of sales,
(b) gross profit is 60% of cost,
(c) gross profit is 36% of sales, and
(d) gross profit is 25% of cost.
(Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.)
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