A retail store has beginning inventory of $30,000, purchases of $220,000, sales of $200,000, and a normal gross margin of 25 percent. What is estimated inventory based on these facts and the gross profit method?
a. $50,000
b. $150,000
c. $100,000
d. $200,000
C
Business
You might also like to view...
The expected outcome of an experiment is known as
A. an experiment. B. a scientific model. C. a prediction. D. experimental results. E. a scientific theory or principle.
Business
Who controls the processes within the organization—what the organization does?
A. Staff management B. Line management C. Clerical workers D. Technicians E. Scientists
Business
Email, surface mail, telephone, and face-to-face conversations are examples of which type of media?
a. Bulk media. b. Personal media. c. Mass media. d. Social media. e. Individual media.
Business
Objectives in multicriteria problems seldom conflict
Indicate whether the statement is true or false
Business