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For calendar 2023, cost of goods available for sale for Carla Vista Corp. was $821500. The average gross profit rate was 25%, Sales for the year were $596000. What is the estimated dollar value of the inventory at December 317 O $374500 O $315125 O $70219 O $447000

For calendar 2023, cost of goods available for sale for Carla Vista Corp. was $821500. The average gross profit rate was 25%, Sales for the year were $596000. What is the estimated dollar value of the inventory at December 317 O $374500 O $315125 O $70219 O $447000

FINANCIAL ACCOUNTING
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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For calendar 2023, cost of goods available for sale for Carla Vista Corp. was $821500. The average gross profit rate was 25%. Sales for the year were $596000. What is the estimated dollar value of the inventory at December 31? O $374500 O $315125 $70219 O $447000
Transcribed Image Text:For calendar 2023, cost of goods available for sale for Carla Vista Corp. was $821500. The average gross profit rate was 25%. Sales for the year were $596000. What is the estimated dollar value of the inventory at December 31? O $374500 O $315125 $70219 O $447000
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