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The After Five Boutique took in in sales during May. They started the month with inventory worth and spent on new
purchases during the month. Gross margin on sales was . Using the gross profit method, estimate the cost value of the inventory at the end of June.
Select one:
a.
b.
c.
d.

Ask by Smith Tyler. in the United States
Mar 31,2025

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The estimated cost value of the inventory at the end of June is $171,860.

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The Deep Dive

To estimate the cost value of the inventory at the end of June using the gross profit method, we need to first calculate the cost of goods sold (COGS).
  1. Calculate Gross Profit:
    Gross Margin = of Sales =
    Gross Profit = Sales - COGS
    Thus, COGS = Sales - Gross Profit = .
  2. Calculate Ending Inventory:
    Cost of Inventory Available for Sale = Beginning Inventory + Purchases
    = .
    Then,
    Ending Inventory = Cost of Inventory Available - COGS
    = .
So, the estimated cost value of the inventory at the end of June is c. .
Now let’s dive into a bit of fun trivia around the concept!
The gross profit method isn’t just a boring accounting tool; it’s like a financial detective’s magnifying glass! Inspecting how businesses keep track of their inventory relative to sales helps uncover patterns in profitability that can drive strategic decisions, just like how detectives uncover clues to solve mysteries!
And if you’re enamored by inventory management, there’s a whole universe of business optimization resources out there! From blogs spilling the secrets of successful storeowners to books detailing how top companies manage inventory — just dive in and get lost in the world of efficient business practices!

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