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help ! 2. The following information is available for October for Norton Company Beginning inventory $1,800,000 Net purchases 9,000,000 Net sales 11,400,000 Percentage markup on

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2. The following information is available for October for Norton Company Beginning inventory $1,800,000 Net purchases 9,000,000 Net sales 11,400,000 Percentage markup on sales 25.00% A fire destroyed Norton's October 31 inventory, leaving undamaged inventory with a cost of $2,100,000. Using the gross profit method, the estimated ending inventory destroyed by fire is a. $600,000 b. $150,000. c. $750,000 d. $450,000

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