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Business, 05.11.2020 18:50 meralysss

The following information is available for Silver Company for the three months ended March 31, 2019: Merchandise inventory, January 1,
2013 $900,000
Purchases 34,00,000
Freight-in 2,00,000
Sales 48,00,000

The gross margin recorded was 25% of sales. What should be the merchandise inventory at March 31, 2019?

a. $700,000
b. $1,125,000
c. $900,000
d. $1,200,000

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Answers: 3

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