Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if the estimated rate of gross profit is 30%, what

If the estimated rate of gross profit is 30%, what is the estimated cost of...

80.2K

Verified Solution

Question

Accounting

If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on September 30, based on the following data? Date Line Item Description Cost Sep. 1 Inventory (at cost) $88,515 Sep. 1-30 Purchases, net (at cost) 165,000 Sep. 1-30 Sales 121,200

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

Geometry
1.2K views

In a circle centered at point O, the ratio of the area of sector AB...

Psychology
1.2K views

Describe the different motivations or needs that human beings experience and the effects on psychosocial behavior. Explain...

Physics
1.2K views

3 An object shaped as L is placed between two parallel plane mirrors as shown...

Basic Math
1.2K views

Solve the following equation for x and assume a, b, c > 0.|x-a| = |bx...

Calculus
1.2K views

Differentiate the given function f x e 5x x4 O f x 5e 6x 4x...

Algebra
1.2K views

Assignment Find the missing term of the following geometric sequence It could be the geometric...

Algebra
1.2K views

Consider the explicit formula for an arithmetic sequence. an = 8n +3What is the recursive...

Accounting
1.2K views

Placid Lake Corporation acquired 90 percent of the outstanding voting stock of Scenic,...

Accounting
1.2K views

Question 1 Please find the Breakeven point from the below detail. Question 2 And also...

Accounting
1.2K views

July 4, 2020 Homework so at 7.5% for 11 years Simple interest 4. # 18.500...

Accounting
1.2K views

On January 1, 2016, a company agrees to pay $26,000 in four years. If the...

Finance
1.2K views

undefined 0 You have two assets and must calculate their values today based on...