The following information is available for the Crystal Company for the three months ended June 30 of this year: Inventory, April 1 of this year ...................... $1,200,000 Purchases ............................................ 4,500,000 Freight-in ........................................... 300,000 Sales ................................................ 6,400,000 The gross margin was 25
percent of sales. What is the estimated inventory balance at June 30?
a. $880,000
b. $933,000
c. $1,200,000
d. $1,500,000
C
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