Business, 13.01.2021 17:50 Chartwig4831

Ivanhoe, Inc. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The rate of markup on cost is 20%. The following account balances are available: Inventory, March 1 $540000 Purchases 420000 Purchase returns 10000 Sales during March 720000 The estimate of the cost of inventory at March 31 would be $240000. $350000. $230000. $360000.

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Ivanhoe, Inc. estimates the cost of its physical inventory at March 31 for use in an interim financi...

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