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AICPA adapted ords of Butler Company reveal the following information. The accounting records of Bu Inventory, January 1... Purchases to July 19... Net sales to
AICPA adapted ords of Butler Company reveal the following information. The accounting records of Bu Inventory, January 1... Purchases to July 19... Net sales to July 19 ........... $ 20,000 200,000 170,000 Exero Estim Loss Meth Hint: ....... Before the company opened for busines nany opened for business on July 20, its assets were totally destroyed by flood. The insurance y adiuster found that the average gross margin percentage for the past few years had been 40%. company adjuster four Required Estimate the value of inventory destroyed assuming that the gross margin percentage given was based on sales
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