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What is the estimated cost of merchandise inventory

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Reference no: EM133046222

Question - If the estimated rate of gross profit is 40%, what is the estimated cost of merchandise inventory on June 30, based on the following data?

June 1 - Merchandise inventory $75,000

June 1 - 30 Net purchase $150,000

June 1 - 30 Net sales $135,000

Reference no: EM133046222

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