On January 1, 2020, the merchandise inventory of Wildhorse, Inc. was $2050000. During 2020 Wildhorse purchased $4091000 of merchandise and recorded sales of $4900000. The gross profit rate on these sales was 25%. What is the merchandise inventory of Wildhorse at December 31, 2020

$2,466,000

Explanation:

Use the missing figure approach or gross profit method as below :

Trading Account

Sales                                                                                   $4900000

Less Cost of Sales :

Opening Inventory                        $2050000

Add Purchases                               $4091000

Total                                               $6,141,000

Less Closing Inventory                ($2,466,000)            ($3,675,000)

Gross Profit ($4900000 x 25%)                                     $1,225,000

thus,

The merchandise inventory of Wildhorse at December 31, 2020 is $2,466,000

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

answer; niosh, the national institute for occupational safety and health;