If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory on September 30, based on the following data? Sep. 1 Merchandise inventory $ 125,000 Sep. 1-30 Purchases (net) 300,000 Sep. 1-30 Sales (net) 150,000
A) $380,000
B) $320,000
C) $275,000
D) $105,000
B
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