tests.mettl.com/test-window/f55ac827#/testWindow/0/12/1EYAccounting AssessmentTotal 00:55:09Finish TestSection 1 of 1 Section #1 v578.1011 12 1314 1513 of 45All243Question # 13G RevisitChoose the best optionThe following information is available for an entity for the quarter ended March 31, of the currentyear Merchandise inventory, as of January 1 of the current year 30,000, Sales 200,000, Purchases190,000. The gross profit margin is normally 20% of sales What is the estimated cost of themerchandise inventory at March 31, of the current year?O 20,000O 40,00060,000180,000Next Queslion+91-82878-03040Zaineh Support +1-650-924-9221413 PMmetil1/16/2021

Given that: Sales = $200,000 Gross profit margin = 20%

Section 1 of 1 Section #1 v 9. 7 8 9 10 11 12 13 14 15 13 of 45 All Question # 13 G Revisit Choose the best option The following information is available for an entity for the quarter ended March 31, of the current O 20,000 year: Merchandise inventory, as of January 1 of the current year 30,000, Sales 200,000, Purchases 190,000. The gross profit margin is normally 20% of sales. What is the estimated cost of the merchandise inventory at March 31 , of the current year? O 40,000 O 60,000 O 180,000

Section 1 of 1 Section #1 v 9. 7 8 9 10 11 12 13 14 15 13 of 45 All Question # 13 G Revisit Choose the best option The following information is available for an entity for the quarter ended March 31, of the current O 20,000 year: Merchandise inventory, as of January 1 of the current year 30,000, Sales 200,000, Purchases 190,000. The gross profit margin is normally 20% of sales. What is the estimated cost of the merchandise inventory at March 31 , of the current year? O 40,000 O 60,000 O 180,000

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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