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On January 1,2019 the merchandise inventory of golden Inc, was $1000000, during 2019, Golden Inc...

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Accounting

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On January 1,2019 the merchandise inventory of golden Inc, was $1000000, during 2019, Golden Inc purchased $2500000 of merchandise, the purchase discount was $70000, freight in charge was $40000, the company recorded net sales of $4000000. the gross profit rate (mark up) on costs was 25%, what is the amount of merchandise inventory at December 31 2019?

A) $450000 B) $900000 C) $270000 D) $600000

1 points 500,000 of merchandise, the purchase discount was $70,000, freight-in charge was $40,000. The company recorded net sales of $4,000,000. The gross profit rate (Markup) on Question 10 of 12 Sarees Question 10 of 12

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