Assume the "cost of goods available for sale" during a year is $120,000. (Recall that...
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Accounting
Assume the "cost of goods available for sale" during a year is $120,000. (Recall that cost of goods available for sale is beginning inventory plus the cost of any purchases during the period.)
The sales revenue for the year is $130,000, and the gross margin percentage is 20%. What is the amount of ending inventory?
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