Reference no: EM133077460
Question - Happy Company provided the following information for the current year:Accounts receivable, January 1 2,100,000
Accounts receivable, December 31 2,700,000
Collections of accounts during the year 9,000,000
Inventory, January 1 4,500,000
Purchases during the year 5,800,000
All sales are made on account. The markup on cost is 20%
Required - What is the estimated inventory on December 31?
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