p). Gross margin = Sale -( Cost of good available for sale - Cl.
F.G. + Selling Expenses)
= 115000 - ( 61000 - 10000 + 30000)
= 34000
q) Work in progress inventory = Opening WIP + Manufacturing Cost - Cost of goods available for sale
= 17000
Note: Answer Questions (p) and (q) using the following selected data for March, taken from Ryker...
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