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Current Attempt in Progress Wildhorse requires an estimate of the cost of goods lost by fire on March 9 . Merchandise on hand on January

Current Attempt in Progress
Wildhorse requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $72,000.
Purchases since January 1 were $132,000; freight-in, $6,600; purchase returns and allowances, $4,700. Sales are made at 25% above
cost and totaled $197,000 to March 9. Goods costing $20,200 were left undamaged by the fire; remaining goods were destroyed.
(a)
Compute the cost of goods destroyed.
Cost of goods destroyed $
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(b)
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