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Brief Exercise 9-9 Shamrock Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,900, and purchases for January through Aprill totaled $529,000.
Brief Exercise 9-9 Shamrock Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $155,900, and purchases for January through Aprill totaled $529,000. Sales revenue for the same period were $654,700. Shamrock's normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Shamrock's April 30 inventory that was destroyed by fire Estimated ending inventory destroyed in fire
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