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1. On September 25, a fire at Brock Company's only warehouse caused severe damage to its entire inventory. Based on recent history, Brock has a

image text in transcribed 1. On September 25, a fire at Brock Company's only warehouse caused severe damage to its entire inventory. Based on recent history, Brock has a gross profit of 30% of net sales. The following information is available from Brock's records for the nine months ended September 30 : a. Using the gross profit method, determine the estimated loss from the fire. b. Compute Brock's markup percentage

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