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Preparing a financial statement for may

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Reference no: EM132483033

Question 1: Preparing a financial statement for May 31, 2019. There is a consistent mark-up of 200% on goods that are sold. Need to estimate the cost of inventory ending May 31st

The following information is available for the five months ended May 31:

  1. Opening Inventory $10,000
  2. Net Purchases $140,000.
  3. Sales $250,000.

Reference no: EM132483033

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