Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i need help with the accounting formulas and answe

I need help with the accounting formulas and answers for this questions. ...

70.2K

Verified Solution

Question

Accounting

I need help with the accounting formulas and answers for this questions. image
Courtry Technology began the year with inventory of $299,000 and purchased $1,820,000 of goods during the year. Sales for the year are $3,887,500, and Country Technology's gross profit percentage is 60% of sales. Compute Country Technology's estimatod cost of ending inventory by using the gross profit method. First, calculate the cost of goods avallable. Then calculate the estimated cost of ending imventory

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased...

Chemistry
1.2K views

Why do we use atomic absorption spectroscopy?

Physics
1.2K views

1- relate characteristics of semiconductor basic mechanism of electrical conduction 2- determine important parameters of semiconductor 3- describe...

Biology
1.2K views

If calcium levels within a man's blood drop too low it can result in twitching,...

Physics
1.2K views

A rigid rectangular mesh measuring 0 300 m by 0 400 m carries a current...

Basic Math
1.2K views

A refrigerator used by a wholesale warehouse has a cost of $81,100, an estimated residual...

Basic Math
1.2K views

Warnock Inc is considering a project that has the following cash flow and WACC data...

Basic Math
1.2K views

The figure shows a medicine wheel which is a Native The central angle in Type...

Calculus
1.2K views

Determine the values of the trigonometric functions of a where sin a 25 can a...

Accounting
1.2K views

Equipment with a cost of $72,826, an estimated residual value of $5,579, and an estimated...

Accounting
1.2K views

Yoric Company listed the net changes in its balance sheet accounts for the past y...

Accounting
1.2K views

Sandhill Fabrications Ltd. sells greenhouse kits to retailers and garden centres. The company's post-closing trial...