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Lolita Company has the following information: Beginning Inventory Net Purchases Net Sales $190,000 $400,000 $770,000 Gross Profit Percentage 30% Lolita Company's estimated ending inventory is: (Round your final answer to the nearest dollar.) A. $539,000 B. $590,000 C. $51,000 D. $359,000

Lolita Company has the following information: Beginning Inventory Net Purchases Net Sales $190,000 $400,000 $770,000 Gross Profit Percentage 30% Lolita Company's estimated ending inventory is: (Round your final answer to the nearest dollar.) A. $539,000 B. $590,000 C. $51,000 D. $359,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Lolita Company has the following information: Beginning Inventory Net Purchases Net Sales $190,000 $400,000 $770,000 Gross Profit Percentage 30% Lolita Company's estimated ending inventory is: (Round your final answer to the nearest dollar.) A. $539,000 B. $590,000 C. $51,000 D. $359,000
Transcribed Image Text:Lolita Company has the following information: Beginning Inventory Net Purchases Net Sales $190,000 $400,000 $770,000 Gross Profit Percentage 30% Lolita Company's estimated ending inventory is: (Round your final answer to the nearest dollar.) A. $539,000 B. $590,000 C. $51,000 D. $359,000
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