Question
Allgone Company's inventory was destroyed by fire. Its records show net sales of $90,000, beginning inventory of $20,000, net purchases of $75,000 and a gross
Allgone Company's inventory was destroyed by fire. Its records show net sales of $90,000, beginning inventory of $20,000, net purchases of $75,000 and a gross margin rate of 30%. What is the estimated value of the ending inventory lost in the fire?
Multiple Choice
$32,000
$158,000
None of the other alternatives are correct
$68,000
$75,000
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Practical Guide To Auditing SAP Systems
Authors: Martin Metz, Sebastian Mayer
1st Edition
3960126409, 978-3960126409
