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5. A company's sore was destroyed by a fire on February 10. The only information that could be salvaged included the following: Inventory, January

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5. A company's sore was destroyed by a fire on February 10. The only information that could be salvaged included the following: Inventory, January 1: Purchases: Sales: Gross Profit Rate: $34,000 $118,000 $140,000 30% Calculate the estimated value of the destroyed inventory. 10

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