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Business math (beginning and ending inventory)

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A firm has a beginning inventory of $50,000 and purchases of $290,000 for an accounting period. Sales totaled $400,000, and typical gross margin as a percentage of sales has been 30% using the gross margin method, what is the estimated ending inventory?

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A firm has a beginning inventory of $50,000 and purchases of $290,000 for an accounting period. Sales totaled ...

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