Business
Business, 18.11.2020 17:10, rasv4799

On January 1, 2017, the merchandise inventory of Glaus, Inc. was $1,600,000. During 2017 Glaus purchased $3,200,000 of merchandise and recorded sales of $4,000,000. The gross profit rate on these sales was 25%. What is the merchandise inventory of Glaus at December 31, 2017? a. $800,000.

b. $1,000,000.

c. $1,800,000.

d. $3,000,000.

answer
Answers: 2

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On January 1, 2017, the merchandise inventory of Glaus, Inc. was $1,600,000. During 2017 Glaus purch...

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