Question 13 0.667 points Mac's Hardware's gross profit on sales is...

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Accounting

Question 13
0.667 points
Mac's Hardware's gross profit on sales is 40%. At the beginning of January, the cost of inventory was $18,000. During one month, Mac had net purchases of $42,000. Net sales at retail for the month were $49,000. The estimated cost of ending inventory using the gross profit method is:
A. $29,400
B. $42,000
C. $60,000
D. $30,600
E. None of these
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