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Using adjustment data listed in E4-16, indicate the effects the adjustment for estimated customer refunds and returns on the liquidity metric working capital and profitability metric gross profit percent.

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Indicate in parentheses the effect of the adjustment for sales and cost of goods sold on the company’s ability to attain an overall gross profit percent of 30%. E4-16 Sales ………………………………………………………………………………..$900,000 Estimated percent of sales expected to be refunded or issued an allowance in 20Y3….1.5% Estimated cost of inventory expected to be returned in 20Y3………………………….$6,000. Get Accounting Help Today