Buffalo Company lost most of its inventory in a fire in December just before the year end physical inventory was taken The corporation's books disclosed the following Beginning inventory Purchases for the year Purchase returns $172,400 406,400 27,100 Sales revenue Sales returns Rate of gross profit on net sales $621,100 22,800 30 Merchandise with a selling price of $21,300 remained undamaged after the fire Damaged merchandise with an original selling price of $14,600 had a net realizable value of $5,200 Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage Amount of the loss $

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Buffalo Company lost most of its inventory in a fire in December just before the year end physical inventory was taken  The corporation's books disclosed the following  Beginning inventory Purchases for the year Purchase returns $172,400 406,400 27,100 Sales revenue Sales returns Rate of gross profit on net sales $621,100 22,800 30   Merchandise with a selling price of $21,300 remained undamaged after the fire  Damaged merchandise with an original selling price of $14,600 had a net realizable value of $5,200  Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage  Amount of the loss $

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Buffalo Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation's books disclosed the

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