Business math (beginning and ending inventory) A firm has a beginning inventory of $50,000 and purch

 
   

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Business math (beginning and ending inventory)

A firm has a beginning inventory of $50,000 and purchases of
$290,000 for an accounting period Sales totaled $400,000, and typical gross
margin as a percentage of sales has been 30% using the gross margin method,
what is the estimated ending inventory?