On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail
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Question:
On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are available:
Sales, January 1 through April 15$561000
Inventory, January 187000
Purchases, January 1 through April 15467500
Markup on cost20%
The amount of the inventory loss is estimated to be
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