Exercise 145 An inventory taken the morning after a large theft discloses $60,000 of goods on hand as of March 12. The following additional data is available from the books: $84,000 63,000 105,000 Inventory on hand, March 1 Purchases received, March 1 - 11 Sales (goods delivered to customers) Past records indicate that sales are made at 40% above cost. Estimate the inventory of goods on hand at the close of business on March 11 by the gross profit method and determine the amount of the theft loss. Inventory of goods on hand s Theft loss