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Business, 25.11.2021 15:00 bnnn

Shumpert, Inc., entered into a contract that was to take two years to complete, with an estimated cost of $900,000. The contract price was $1,300,000. Costs of the contract for 2020, the first year, totaled $675,000. If required, round any division to two decimal places and round your final answers to the nearest dollar. The gross profit reported by the percentage of completion method for 2020 was $. After the contract was completed at the end of 2021 at a total cost of $950,000. The gross profit reported by the percentage of completion method for 2021 is $

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