Business, 23.04.2020 00:59, leannesmith90101

TB Nelson Company prepares monthly financial statements and uses the gross profit method to estimate ending inventories. Historically, the company has had a 40% gross profit rate. During June, net sales amounted to $180,000; the beginning inventory on June 1 was $54,000; and the cost of goods purchased during June amounted to $90,000. The estimated cost of TB Nelson Company's inventory on June 30 is Group of answer choices $21,600. $72,000. $126,000. $36,000.

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TB Nelson Company prepares monthly financial statements and uses the gross profit method to estimate...