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Blossom Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $47,880, Purchases
Blossom Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $47,880, Purchases since January 1 were $90,720; freight-in, $4,284; purchase returns and allowances, $3,024. Sales are made at 33 1/% above cost and totaled $150,000 to March 9. Goods costing $13,734 were left undamaged by the fire; remaining goods were destroyed. Your answer is incorrect. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to 0 decimal places, eg. 15 % or 125.) $ Cost of goods destroyed eTextbook and Media Your answer is incorrect Compute the cost of goods destroyed, assuming that the gross profit is 331/ % of sales. (Round ratios for computational purposes to 5 decimal places, e.s. 78.72345% and final answer to O decimal places, e.g. 28,987) $ Cost of goods destroyed
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