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Carla Vista Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was
Carla Vista Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $36,480. Purchases since January 1 were $69,120; freight-in, $3,264; purchase returns and allowances, $2,304. Sales are made at 33 1/3% above cost and totaled $108,000 to March 9. Goods costing $10,464 were left undamaged by the fire; remaining goods were destroyed. (a) Your answer is correct. Compute the cost of goods destroyed. (Round gross profit percentage and final answer to O decimal places, e.g. 15% or 125.) (b) Cost of goods destroyed eTextbook and Media +A $ 15096 Attempts: 3 of 4 used * Your answer is incorrect. Compute the cost of goods destroyed, assuming that the gross profit is 33 1/3% of sales. (Round ratios for computational purposes to 5 decimal places, e.g. 78.72345% and final answer to 0 decimal places, e.g. 28,987.) Cost of goods destroyed +A $ 24816
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