no 6

Question 6 1 pts A Company's inventory on hand was unfortunately flooded when its warehouse was hit by a storm on July 31, 2020. The following information is provided regarding inventory from January to July. Inventory, 1/1/2020 Purchases Freight-in Purchase discount and allowances Purchase returns Transfers-in COST RETAIL 268,800 420,000 480,000 650,000 4,500 22,000 26,000 35,000 150,000 210,000 80,000 Additional mark-ups Net markdowns Sales 65,000 1,550,000 40.000 Sales returns and allowances Employee discounts Est. normal losses 12,500 21,500 Determine loss in inventory of Company A