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Before a company took year-end physical inventory, there was some flooding in part of its inventory storage warehouse. The following information is available. Estimated
Before a company took year-end physical inventory, there was some flooding in part of its inventory storage warehouse. The following information is available. Estimated cost of total inventory before the flooding was $60,000. Inventory damaged in the flooding had an original selling price of $16,000 and a net realizable value of $11,000. The inventory that remained undamaged has a $20,000 selling price. Gross profit rate is 25% of sales revenue. (Below, do not include any words or signs in your answer; enter number only) What is the estimated cost of the inventory that remained undamaged? $ What is the total estimated loss due to the flooding? (assume no insurance coverage) $
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