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Presented below is information related to Wildhorse Corporation for the current year. ...

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Accounting

Presented below is information related to Wildhorse Corporation for the current year.

Beginning inventory $ 593,500
Purchases 1,523,600
Total goods available for sale $2,117,100
Sales revenue 2,460,000

Compute the ending inventory, assuming that (a) gross profit is 47% of sales, (b) gross profit is 60% of cost, (c) gross profit is 33% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.)

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Ending Inventory (a) Gross profit is 47% of sales (b) Gross profit is 60% of cost (c) Gross profit is 33% of sales (d) Gross profit is 25% of cost

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