Bob "Big Bobby" Weinstein Ltd$.$ experienced complete melt$-$down of all inventory

due to a very suspicious fire. The company's updated general ledger revealed the

following balances at September $13$th$,$ the date of the casualty loss:

Sales..................... $5,786,776$

Sales Returns............ $58,990$

Sales discounts $........13,500$

Inventory Jan $1$st$........716,844$

Purchases.................. $4,510,000$

Purchase returns......... $25,000$

Purchase discounts....... $1,844$

Historically the company's gross profit had been $->28\mathrm{.}00\%$

Due November $20$th

Calculate the:

Solutions

a Cost of Goods Available for Sale a

b Estimated Gross Profit as of September $13$th b

c Estimated Cost of Goods Sold as of September $13$th c

d Estimated cost of destroyed Inventory as of September $13$th d