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Brief Exercise 9-9 Corona do's normal gross is 35% on Coronado Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $144,200, and
Brief Exercise 9-9 Corona do's normal gross is 35% on Coronado Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $144,200, and purchases for January through April totaled $487,800. Sales revenue for the same period were $644,900, Coronados normal gross profit percentage is 35% on sales. Using the gross profit method, estimate Coronado's April 30 inventory that was destroyed by fire. Estimated ending inventory destroyed in fire
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