Consider the following information for a particular company. Determine the ending inventory. Beginning inventory Ending inventory $ 85,200 ? Purchases $ 6,95,000 Cost of goods sold $ 7,24,000

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 4CE: Kulsrud Company would like to estimate the current inventory level. Using the gross profit method...
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Consider the following information for a particular company. Determine
the ending inventory.
Beginning inventory
Ending inventory
$ 85,200
?
Purchases
$ 6,95,000
Cost of goods sold
$ 7,24,000
Transcribed Image Text:Consider the following information for a particular company. Determine the ending inventory. Beginning inventory Ending inventory $ 85,200 ? Purchases $ 6,95,000 Cost of goods sold $ 7,24,000
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