Solution-What is the estimated cost of inventory on march

What is the estimated cost of inventory on march

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Reference no: EM133163024

Question - Avarice Company has a recent gross profit history of 40% of net sales.

The following data are available from the accounting records for the three months ended March 31:

Inventory - January 1 P650,000

Purchases 3,200,000

Net Sales 4,500,000

Purchase Returns 75,000

Freight In 50,000

Required - Using the gross profit method, what is the estimated cost of inventory on March 31?

Reference no: EM133163024

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What is the estimated cost of inventory on march : Avarice Company has a recent gross profit history of 40% of net sales. Using the gross profit method, what is the estimated cost of inventory on March 31

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What is the estimated cost of inventory on march

Reference no: EM133163024

Reference no: EM133163024

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