Please do not give solution in image format thanku A clock shop sells beautiful clocks for $140 each. In 2020he produced 40,000 watches and sold 37,000.Other information about the operation is as follows:Direct contentDirect salaryVariable costSales commissionFixed productioncostFixed administrativecosts$45 per pc$9 per pc$4.5 perpc$12.5 perpc$64.5 perpc$39,9What is the inventory cost in $ using the gross marginmethod?

Name: Please do not give solution in image format thanku A clock shop sells
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Description: Please do not give solution in image format thanku A clock shop sells beautiful clocks for $140 each. In 2020he produced 40,000 watches and sold 37,000.Other information about the operation is as follows:Direct contentDirect salaryVariable costSales

The gross margin method is a technique used to estimate the cost of inventory based on the gross…

Answered: What is the inventory cost in $ using…

Business

Accounting

What is the inventory cost in $ using the gross margin method?

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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