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Discuss the gross profit method

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Reference no: EM131761704

The following data is available:

Net sales $16,000
Normal gross profit 45%
Beginning inventory 12,000
Net purchases 7,000

Using the gross profit method, the estimated ending inventory balance would be:

A. $5,850.

B. $7,150.

C. $10,200.

D. $15,000.

Reference no: EM131761704

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