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Help Save & Ex A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged 1.
Help Save & Ex A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged 1. Inventory beginning $28,300 2. Purchases for the period: $17,300 3. Sales for the period: $55,300 4. Sales returns for the period: $730 25 The company's average gross profit ratio is 38%. What is the estimated cost of the lost inventory using the gross profit method
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