1.)

The following information is available for October for Decko Company.

Beginning inventory $ 50,000

Net purchases 150,000

Net sales 300,000

Percentage markup on cost 66.67%

A fire destroyed Deckos October 31 inventory, leaving undamaged inventory with a cost of $3,000. Using the gross profit method, the estimated ending inventory destroyed by fire is $

2.)

On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are available:

Sales, January 1 through April 15 $300,000

Inventory, January 1 50,000

Purchases, January 1 through April 15 250,000

Markup on cost 25%

The amount of the inventory loss is estimated to be $

3.) A margin of 25% is equivalent to what markup?