A company's store was destroyed by an earthquake on February 10. Only the following information for the current period could be recovered. Beginning inventory, January 1: January 1 through February 10 purchases (net) January 1 through February 10 sales (net) The company's estimated gross profit rate is 41%. Estimate the cost of the destroyed inventory using the gross profit method. Beginning inventory Cost of goods available for sale 11mm Imunkan Cost of goods available for sale Estimated cost of goods sold Estimated ending inventory Net cost of goods purchased $ $150,000 $327,000 $654,000 150,000

A company's store was destroyed by an earthquake on February 10. Only the following information for the current period could be recovered. The company's estimated gross profit rate is 41%. Estimate the cost of the destroyed inventory using the gross profit method