Royal gorge company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financial statements required by its bank. inventory on hand at the end of october was $59,600. the following information for the month of november was available from company records: purchases: $121,000freight-in: 4.100sales: 235.000sales returns : 16,000purchases returns: 4,000 in addition, the controller is aware of $5,000 of inventory that was stolen during november from one of the company's warehouses required: 1. calculate the estimated inventory at the end of november, assuming a gross profit ratio of 40%. 2. calculate the estimated inventory at the end of november, assuming a markup on cost of 60%

Multiple-choice questions have a special grading rule determined by your instructor. assume that your instructor has decided to grade these questions in the following way: if you submit an incorrect answer to a multiple-choice question with n options, you will lose 1/(nâ’1) of the credit for that question. just like the similar multiple-choice penalty on most standardized tests, this rule is necessary to prevent random guessing.if a multiple-choice question has five answer choices and you submit one wrong answer before getting the question correct, how much credit will you lose for that part of the question? multiple-choice questions have a special grading rule determined by your instructor. assume that your instructor has decided to grade these questions in the following way: if you submit an incorrect answer to a multiple-choice question with options, you will lose of the credit for that question. just like the similar multiple-choice penalty on most standardized tests, this rule is necessary to prevent random guessing.if a multiple-choice question has five answer choices and you submit one wrong answer before getting the question correct, how much credit will you lose for that part of the question? 100% 50% 33% 25% 20%