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Compute What is the estimated ending inventory

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Reference no: EM132699104

The following data for Fern's Florist Shop shows the first seven months of its fiscal year:

Data

Beginning inventory $53,500

Purchases 75,500

Net sales revenue 93,700

Normal gross margin percent. 30%

Problem 1: What is the estimated ending inventory?

A. $38,700

B. $63,410

C. $65,590

D. $90,300

Reference no: EM132699104

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