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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

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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 thus escaped destruction Lumber Millwork Hardware $247,700 $90,100 $45.900 Inventory, Jan. 1, 2020 Purchases to Aug. 18, 2020 Sales to Aug. 18, 2020 1,478,700 381,800 161,500 2,086,500 484.900 203.000 Submit your estimate of the inventory amounts immediately preceding the fire. (Round ratios for computational purposes to 5 decimal places, eg. 78.74265% and final answers to decimal places, es, 28,987.) Lumber Millwork Hardware Inventory $ 9 Riverbed Lurber Company handles three principat lines of merchandise with these varying rates of gross profit on cost. Lumber 25% Millwork 30% Hardware and fittingsl 40%

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