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During December 2020 a fire damaged the South Africa co. stores, the following information is available from books: Purchases 885,000 Purchased discount 35,000 Beginning inventory
During December 2020 a fire damaged the South Africa co. stores, the following information is available from books:
Purchases 885,000
Purchased discount 35,000
Beginning inventory 350,000
Fright in 25,000
Sales 1,650,000
Sales discount 45,000
Freight out 14,000
Account receivables 700,000
Purchases returns 15,000
Undamaged inventory 28,000
Sales return 85,000
Consigned goods 20,000
The company has the following information for the previous years
2017
2018
2019
sales
800000
1150000
1250000
cost of goods sold
600000
740000
900000
Required: calculated the company losses from fire?
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