Question
BE 93 Gross profit method On February 26 th . A hurricane destroyed the entire inventory stored in a warehouse owned by the R Corporation.
- BE 93 Gross profit method
On February 26th. A hurricane destroyed the entire inventory stored in a warehouse owned by the R Corporation. Estimate the cost of the inventory destroyed by the hurricane.
Information periodic inventory system
Beginning inventory, $220,000
Purchases $400,000
Net sales $600,000
Markup on Cost=43 %. Hint covert to gross profit ratio first!
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Ethical Obligations And Decision Making In Accounting Text And Cases
Authors: Steven Mintz, Roselyn Morris
2nd Edition
0078025281, 9780078025280
