Business, 19.07.2021 19:50, melvindiana58

On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: Beginning inventory, January 1: $5000
Net sales: $79,000
Net purchases: $77,000
The company's gross margin ratio is 20%. Using the gross profit method, the estimated ending inventory value would be:.
A) $18,800.
B) $82,000.
C) $15,800.
D) $63,200.
E) $15,400.

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On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial...