Question
The following information is available for the Abshire Chemical Supply Company. Estimate the cost of goods...
The following information is available for the Abshire Chemical Supply Company. Estimate the cost of goods sold for January and the ending inventory at January 31, 2009.
inventory, january 1 2009 $220,000
net purchases for the month of january $740,000
net sales for the month of January $980,000
fill in the blank choices are estimated gross profit, purchases, sales and units sold
what is the estimated cost of goods sold?
blank - blank = estimated costs of goods
what is the estimated ending inventory ?
blank + blank- blank = estimated ending inventory
what
Gross profit ratio (historical) 30%
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