Question
In a fire on February 10, 2017, all of Blue Company's goods were burned. Below is the information compiled up to the date of the
In a fire on February 10, 2017, all of Blue Company's goods were burned. Below is the information compiled up to the date of the fire.
Stock, January 1, 2017 $436,700
Revenues - February 10, 2017 1,916,100
Purchases - February 10, 2017 1,097,330
Freight - February 10, 2017 61,360
Gross profit on selling price 25%
What is the approximate inventory on February 10, 2017 ?
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