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Doc Gibbs Company reported the following information for November and December 2010. Doc Gibbs's ending inventory at December 31 was destroyed in a fire. A.

Doc Gibbs Company reported the following information for November and December 2010.

Doc Gibbs's ending inventory at December 31 was destroyed in a fire.

A.Compute the gross profit rate for Novembe

B. Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire.

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Doc Gibbs Company reported the following information for November and December 2010. Doc Gibbs's ending inventory at December 31 was destroyed in a fire. Compute the gross profit rate for Novembe Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire

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