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Collins Computers stored its inventory in a warehouse which suffered a fire in sales ofice location. In a claim with the insurance company, the owners

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Collins Computers stored its inventory in a warehouse which suffered a fire in sales ofice location. In a claim with the insurance company, the owners ask you to estimate the inventory the warehouse. The following information is available: Beginning inventory for November $375,500 Purchases through November 30 470,250 Net sales revenue through November 31 793,000 The company's gross profit has historically been 40% of Net sales revenue Estimate the value of the inventory destroyed in the fire using the gross profit method d cus to en $410,000 that ar S388,A50 rs, and oc of gas s $528,550 Walmart S369.950 could imp

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