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Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $48,640. Purchases

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Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $48,640. Purchases since January 1 were $92,160; freight-in, $4,352; purchase returns and allowances, $3,072.5 les are made at 331/3% above cost and totaled $153,000 to March 9 . Goods costing $13,952 were left undamaged by the fire; remaining goods were destroyed. (a) Compute the cost of goods destroyed. (Round gross profit percentage and final answer to 0 decimal places, e.g. 15\% or 125.) $ eTextbook and Media Attempts: 2 of 5 used (b) Compute the cost of goods destroyed, assuming that the gross profit is 331/3% of sales. (Round ratios for computational purposes to 5 decimal places, e.g. 78.72345\% and final answer to 0 decimal places, es. 28,987.)

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