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The following infomation is available for November 2018, for Golden Company. Beginning inventory S 80,000 Purchases 300,000 Purchase return 20,000 Sales 500,000 Sales discount 50,000 Gross profit percentage of sales Using the gross profit method, the estimated ending inventory is: hª 25% OA S50,000 OB. $30,000 $22,500 OD. $85,000

The following infomation is available for November 2018, for Golden Company. Beginning inventory S 80,000 Purchases 300,000 Purchase return 20,000 Sales 500,000 Sales discount 50,000 Gross profit percentage of sales Using the gross profit method, the estimated ending inventory is: hª 25% OA S50,000 OB. $30,000 $22,500 OD. $85,000

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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The following information is available for November 2018, for Golden Company. Beginning inventory S 80,000 Purchases 300,000 Purchase return 20,000 Sales 500,000 Sales discount 50,000 Gross profit percentage of sales Using the gross profit method, the estimated ending inventory is: 25% OA. S50,000 OB. $30.000 Oc $22,500 OD. $85,000
Transcribed Image Text:The following information is available for November 2018, for Golden Company. Beginning inventory S 80,000 Purchases 300,000 Purchase return 20,000 Sales 500,000 Sales discount 50,000 Gross profit percentage of sales Using the gross profit method, the estimated ending inventory is: 25% OA. S50,000 OB. $30.000 Oc $22,500 OD. $85,000
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