The net sales of a company is $316,000. The cost of goods available for sale is $296,000 and the gross profit percentage is 43%. What is the amount of ending inventory? a. $135,880 b. $100,880 c. $180,120 d. $115,880

The net sales of a company is $316,000. The cost of goods available for sale is $296,000 and the gross profit percentage is 43%. What is the amount of ending inventory? a. $135,880 b. $100,880 c. $180,120 d. $115,880

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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100%

What is the amount of ending inventory?

The net sales of a company is $316,000. The cost of goods available for
sale is $296,000 and the gross profit percentage is 43%. What is the
amount of ending inventory?
a. $135,880
b. $100,880
c. $180,120
d. $115,880

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