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Im not sure how to do this one, can you help? 5. A fire destroyed a warehouse. Accounting records on that date indicated the following
Im not sure how to do this one, can you help?
5. A fire destroyed a warehouse. Accounting records on that date indicated the following Inventory at the beginning of the year Purchases during the year Sales to date $ 25 $ 75 $ 90 The gross profit ratio averages 35% of sales. Estimate the cost of inventory destroyed in the fire. Show work for credit. A. $30 B. $31.50 C. $41.50 D. $58.50 Step by Step Solution
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