Based on the following data,determine the approximate valuation of ending inventory in each case given below: $\begin{array} { l }
\text { Cost of goods available for sale. }&\$400\
\text {Net sales. }&600\
\end{array}$
Case A-Gross margin rate on sales = 40 percent:
Inventory valuation is $________________________ Case B-Gross margin rate on cost = 100 percent:
Inventory valuation is $________________________

Question

Based on the following data,determine the approximate valuation of ending inventory in each case given below: $\begin{array} { l  }
 \text { Cost of goods available for sale. }&\$400\
 \text {Net sales. }&600\
\end{array}$
 Case A-Gross margin rate on sales = 40 percent:
Inventory valuation is $________________________ Case B-Gross margin rate on cost = 100 percent:
Inventory valuation is $________________________

Quizplus · Accepted Answer

The Answer of Based on the following data,determine the approximate valuation of ending inventory in each case given below: $\begin{array} { l  }
 \text { Cost of goods available for sale. }&\$400\
 \text {Net sales. }&600\
\end{array}$
 Case A-Gross margin rate on sales = 40 percent:
Inventory valuation is $________________________ Case B-Gross margin rate on cost = 100 percent:
Inventory valuation is $________________________

Based on the Following Data,determine the Approximate Valuation of Ending \begin{array} { l } \text { Cost of goods available for sale. }&\$400\\ \text {Net sales. }&600\\end{array}

Based on the Following Data,determine the Approximate Valuation of Ending $\begin{array} { l } \text { Cost of goods available for sale. }&\$400\\ \text {Net sales. }&600\\end{array}$