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QUESTION
D DIF: Difficult OBJ: 07-07 NAT: AACSB Analytic | AICPA FN-Measurement 53.
ANS: D DIF: Difficult OBJ: 07-07 NAT: AACSB Analytic | AICPA FN-Measurement 53. If the estimated rate of gross profit is 40%, what is the estimated cost of the merchandise inventory on June 30, based on the following data?
