arcYouaSupplier Store.recieveStateswereandto estimateWarehouse manager for a kitchen.OnthatthePhone Callthe insurancerecordswhichhard drive oftimewereCompany60%Calculatetheabuildingdestroyed by fire. For the police reportSunday in May yourfrom theentireClaim theValue ofOwner, Heandwereyour homeofowneraskedLost inventory. You'ron aluckily backedatdate618, 400236, 600. The begining inventory,was314,000Forthepasthas operated atUse theyourContentsthe fire theandupComputer indicated thatSales toyounetthe purchases wereOnJanuary 1¹3years theGross Margain ofgros, profit methodAnswer (in).to

Estimated ending inventory on the date of fire can be calculated by estimating cost of goods sold…

You a Supplier Store. recieve States were and to estimate arc a Warehouse manager for a On Phone Call the insurance the records which hard drive of the time at date 236, 600. was 314,000 were that entire building and destroyed by fire. For the police report Claim the owner asked you the The a 618,400 . Sunday in May your from the owner. He Contents Value of were luckily backed home Lost inventory. You'r on a kitchen your of the fire the and up Computer indicated that Sales to net to purchases were begining inventory. For the past has operated at a On January 1 3 the years gross margain of Method to Company 60%. Use the gross profit •Calculate your answer (ink).

You a Supplier Store. recieve States were and to estimate arc a Warehouse manager for a On Phone Call the insurance the records which hard drive of the time at date 236, 600. was 314,000 were that entire building and destroyed by fire. For the police report Claim the owner asked you the The a 618,400 . Sunday in May your from the owner. He Contents Value of were luckily backed home Lost inventory. You'r on a kitchen your of the fire the and up Computer indicated that Sales to net to purchases were begining inventory. For the past has operated at a On January 1 3 the years gross margain of Method to Company 60%. Use the gross profit •Calculate your answer (ink).

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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