Exercise 9-19 Presented below is information related to Flint Corporation for the current year. Beginning inventory Purchases $ 600,900 1.523.000 Total goods avalable for sale $2,123,900 Sales revenue 2,435,000 Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to o decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 45% of sales (b) Gross profit is 60% of cost (e) Gross profit is 36% of sales l (d) Gross profit is 25% of cost l

Exercise 9-19 Presented below is information related to Flint Corporation for the current year. Beginning inventory Purchases $ 600,900 1.523.000 Total goods avalable for sale $2,123,900 Sales revenue 2,435,000 Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to o decimal places, e.g. 28,987.) Ending Inventory (a) Gross profit is 45% of sales (b) Gross profit is 60% of cost (e) Gross profit is 36% of sales l (d) Gross profit is 25% of cost l

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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