Balan’s Co.’s pricing structure has been formulated to yield a gross margin of 40%. The following data pertain to the year ended December 31, 2018:Sales $600,000Beginning Inventory $100,000Purchases $400,000Physical inventory at year-end $100,000Balan is satisfied that all sales and purchases have been fully and properly recorded. How much might Balan reasonably estimate as missing inventory at December 31, 2018?”show solution”
Balan’s Co.’s pricing structure
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