The cost of ending inventory for July, with the help of gross profit method. Given that Astro Wholesaler’s has maintained a gross margin of 35 % on all its weight training products. In January 1, the company had a beginning inventory of $ 319 , 800 , net purchase of $ 422 , 900 , and net sales of $ 535 , 100 .

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Chapter 16, Problem 7AT

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To calculate: The cost of ending inventory for July, with the help of gross profit method. Given that Astro Wholesaler’s has maintained a gross margin of 35% on all its weight training products. In January 1, the company had a beginning inventory of $319,800, net purchase of $422,900, and net sales of $535,100.

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