Brenda Folser’s accounts, for some years past, show that the percentage of gross profit to turnover is constant.

On 23 February 20x6, Brenda’s shop was burnt down, and all the inventory was destroyed.

These figures are extracted from her books:

At the date of the fire there was inventory at the harbour, imported at a landed cost of R6 600. All other inventory bought had been received.

You are required to:

Draw up a statement to calculate the amount of inventory lost as a result of the fire.

Transcribed Image Text:

Inventory on hand at 1 January 20x5 Purchases to 31 December 20x5 Import duty on 31 December 20x5 Railage inwards to 31 December 20x5 Sales to 31 December 20x5 Purchases to 23 February 20x6 Inventory on hand as at 31 December 20x5 Import duty to 23 February 20x6 Railage inwards to 23 February 20x6 Sales to 23 February 20x6 96 000 00 372 000 00 74 400 00 97 800 00 682 500 00 123 000 00 94 200 00 18 900 00 24 300 00 195 000 00