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2. The Inventory of Bell department store was destroyed by a fire on September 10,2014. The following data were found in the accounting records Date

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2. The Inventory of Bell department store was destroyed by a fire on September 10,2014. The following data were found in the accounting records Date Purchase/sales Amount(s) Jan 1 inventory $180000 Net purchase $342000 Sale $675000 Returned sales $12000 2014 estimated gross profit 42% rate (6 marks) Use the gross profit method to estimate the inventory for March 2014

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