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What is the merchandise inventory of blossom at december

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Question 1: On January 1, 2017, the merchandise inventory of Blossom, Inc. was $950000. During 2017 Blossom purchased $1913000 of merchandise and recorded sales of $2700000. The gross profit rate on these sales was 20%. What is the merchandise inventory of Blossom at December 31, 2017?

Option a) $703000.

Option b) $787000.

Option c) $540000.

Option d) $2160000.

Reference no: EM132568639

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