9-9 B

Coronado Corporations April 30 inventory was destroyed by fire. January 1 inventory was $155,900, and purchases for January through April totaled $529,000. Sales revenue for the same period were $654,700. Coronados normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Coronados April 30 inventory that was destroyed by fire.

Estimated ending inventory destroyed in fire