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Martinez Lumber Company handles three principal lines of merchandise with these varying rates of gross profit on cost. Lumber Millwork Hardware 25% 30% 40% On

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Martinez Lumber Company handles three principal lines of merchandise with these varying rates of gross profit on cost. Lumber Millwork Hardware 25% 30% 40% On August 18, a fire destroyed the office, lumber shed and a considerable portion of the lumber stacked in the yard. To file a report of loss for insurance purposes, the company must know what the inventories were immediately preceding the fire. No detail or perpetual inventory records of any kind were maintained. The only pertinent information you are able to obtain are the following facts from the general ledger, which was kept in a fireproof vault and escaped destruction. Millwork Inventory, Jan. 1.2022 Purchases to Aug. 18, 2022 Sales to Aug. 18, 2022 Lumber $240,000 1,440,000 1.968,000 $86,400 360,000 511,680 Hardware $43,200 153,600 235,200 Submit your estimate of the inventory amounts immediately preceding the fire. (Round ratios for computational purposes to 2 decimal places, c.8. 78.74% and final answers to 0 decimal places, eg. 28,987) Lumber Millwork Hardware $ $ Inventory

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