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Electronic Company began the year with inventory of $55,800 and purchased $277,000 of goods during...

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Accounting

Electronic Company began the year with inventory of $55,800 and purchased $277,000 of goods during the year. Sales for the year are $476, 000, and Electronic's gross profit percentage is 45% of sales.

requirement

R1. Compute the estimated cost of ending inventory by the gross profit method

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