If The Estimated Rate Of Gross Profit Is 30 What Is The Estimated Cost Of The Me

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If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory on September 30, based on the following data?Sep. 1 Merchandise inventory $ 125,000 Sep. 1-30 Purchases (net) 300,000 Sep. 1-30 Sales (net) 150,000

 
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